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GB News Funding, Investors & Competitors
GB News has raised $152M across 2 funding rounds, most recently a $70M Series B in August 2022.
Last GB News funding round
$70M
Series B · Aug 2022
Cumulative funding GB News raised
$152M
across 2 funding rounds
Key investors in GB News
Legatum
Paul Marshall
Warner Bros. Discovery
About GB News
GB News is a London-headquartered television news channel launched on June 13, 2021, broadcasting 24/7 news, analysis, and debate programs available on Freeview channel 236, Sky 512, and Virgin Media 626 throughout the United Kingdom.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Advertising
Sectors
GB News Funding History
GB News has raised a total of $152M across 2 funding rounds.
GB News' first fundraising round was a $82M Series A in January 2021. The most recent completed round was a $70M Series B in August 2022.
GB News funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2022 | Series B | Legatum (lead); Paul Marshall (lead) | $70M | GB News, a UK right-leaning news channel launched in June 2021, secured a Series B funding round of £60 million in August 2022 from existing backers Legatum Ventures and Sir Paul Marshall, who bought out Discovery's 25% stake. Discovery had originally purchased its stake for £20 million but sold it for £8 million, implying a company valuation of £32 million at the time of the transaction. The investment was announced on August 18, 2022, to support growth, new talent, programs, and expansion beyond London, including live broadcasts and a weekly people's poll. The round matched the channel's initial funding amount and was described by Legatum partner Alan McCormick, then GB News chairman, as testament to confidence in its momentum after a strong first year. CEO Angelos Frangopoulos noted it provided financial muscle for long-term building in a competitive market, while Marshall emphasized its role in media plurality and rapid audience growth as one of the UK's fastest-growing multimedia startups. Co-founders Andrew Cole and Mark Schneider resigned from the board and sold their shares as part of the deal. Paul Marshall, co-owner via personal investment and hedge fund Marshall Wace, had initially put in £10 million. |
| Jan 2021 | Series A | Legatum (lead); Warner Bros. Discovery (lead); Paul Marshall | $82M | GB News, a UK free-to-air TV and radio news channel launched in June 2021, raised an initial £60 million in funding prior to launch, backed by investors including Dubai-based Legatum Ventures, hedge fund manager Paul Marshall in a personal capacity, and Discovery Inc. (later Warner Bros. Discovery), which took a 25% stake for around £20 million, implying an £80 million valuation at launch. The channel aimed to recruit 140 staff including 120 journalists and launch streaming, video-on-demand, and audio services. Co-founders Andrew Cole and Mark Schneider established the parent company All Perspectives Ltd in February 2021 to oversee this capital raise. In August 2022, approximately 14 months after launch, Warner Bros. Discovery sold its 25% stake for £8 million to existing backers Legatum Ventures and Paul Marshall, valuing GB News at £32 million—half its launch valuation—amid a post-merger investment review that brought CNN into its portfolio. This transaction coincided with a Series B funding round where Legatum and Marshall injected an additional £60 million commitment, matching the initial round size, to fund studio and technology upgrades, subtitles, distribution platforms, and new talent. Co-founders Cole and Schneider resigned from the board and sold their shares, with Cole focusing on his FinTech firm Glow. GB News chairman Alan McCormick, a Legatum partner, highlighted the investment as testament to confidence in the channel's strong first-year momentum. CEO Angelos Frangopoulos noted it would provide financial muscle for long-term growth in a competitive market. By late 2022, GB News showed audience growth, surpassing Sky News in primetime ratings over a 30-day period. |
Who has invested in GB News?
3 investors have backed GB News across its funding rounds, including Legatum, Paul Marshall and Warner Bros. Discovery.
Lead investors include Legatum, Paul Marshall and Warner Bros. Discovery.
GB News Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2021 | ||
This data is available for Pro users. Sign up to see all 3 GB News investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialGB News Competitors
GB News competitors include listed companies like Disney, Comcast, Warner Bros. Discovery and Fox Corporation, and private ones like CMC and Dadi Cinema.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $94B | $19B | $182B | 2.3x | ||
| Publicly listed | $124B | $46B | $81B | 1.4x | ||
| Publicly listed | $37B | $21B | $71B | 2.8x | ||
| Publicly listed | $17B | $3B | $26B | 1.7x | ||
| Private | - | - | $6B | - | ||
| Private | - | - | $2.9B | - |
GB News Public Comps
GB News is still privately-owned, but its public comps include Disney, Comcast, Warner Bros. Discovery, Fox Corporation, Liberty Media, BCE, Rogers, TBS Holdings, RTL Group and Sphere Entertainment.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $94B | $19B | 2.4x | 2.3x | 12.3x | 10.3x | |||
| $124B | $46B | 1.3x | 1.4x | 3.5x | 4.8x | |||
| $37B | $21B | 2.7x | 2.8x | 4.8x | 12.0x | |||
| $17B | $3B | 1.7x | 1.7x | 9.9x | 7.4x | |||
| $4.5B | $1.4B | 6.2x | 5.9x | 20.1x | 23.3x | |||
| $18B | $10B | 3.0x | 3.0x | 5.0x | 6.8x | |||
| $16B | $10B | 3.5x | 3.4x | 5.3x | 7.7x | |||
| $2.7B | $643M | 2.1x | 2.1x | 9.1x | 21.8x | |||
This data is available for Pro users. Sign up to see all GB News competitors and their valuation data. Start Free Trial | ||||||||
Common questions about GB News
| When was GB News founded? | GB News was founded in 2020. |
| Where is GB News headquartered? | GB News is headquartered in London, United Kingdom. |
| Is GB News publicly listed? | No, GB News is a private, VC-backed company. |
| How much funding has GB News raised? | GB News has raised $152M across 2 funding rounds. |
| What was GB News' last funding round? | GB News' last funding round was a $70M Series B in August 2022, led by Legatum and Paul Marshall. |
| Who are GB News' investors? | GB News' investors include Legatum, Paul Marshall and Warner Bros. Discovery. |
| Which companies are comparable to GB News? | Companies comparable to GB News include Disney, Comcast, Warner Bros. Discovery, Fox Corporation, CMC and Dadi Cinema. |
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