GB News is in talks with investors to raise £30 million.
Sky News reported that All Perspectives Limited, the parent company of the right-leaning talk channel, is looking to its existing backers to provide the capital.
The call for funding comes about 15 months after one of the channel’s original shareholders, the US media giant Discovery, sold its 25% stake for £8 million. At the time, GB News secured £60 million of new investment from Legatum Ventures and Sir Pau Marshall, the founder of Hedge Fund Marshall Wace.
Sir Paul, who founded the online opinion platform Unherd, is also among those who had been looking at a bid for the Daily Telegraph. Any plans to purchase the Conservative supporting broadsheet have been put on hold awaiting a government-commissioned public interest inquiry into a possible Saudi bid for the paper.
GB News employs a number of Conservative politicians and serving MPs, including Jacob Rees Mogg, Lee Anderson and Esther McVey, and has found itself in hot water over their use in covering Breaking News.
There are still close to a dozen open investigations into the channel by the regulator Ofcom, which is also conducting an inquiry into the use of politicians on programmes perceived as news coverage.
