GB News has reportedly unveiled two new financers for its 24-hour TV and online service, which is set to be rolled out in the United Kingdom during the latter half of 2021. The new investors include Sir Paul Marshall, one of the most well-known hedge fund managers in the UK, and Legatum, an investment group based in Dubai.
As per reliable sources, the move signifies the recruitment of 20 support roles and 120 journalists for the project that would be headed by Andrew Neil, a Former BBC presenter, who is set to host a prime-time programme on the news service.
As Neil puts it, he was tremendously encouraged by the confidence that investors have depicted in GB’s business. The presenter has further expressed that GB News is thrilled to have such an extensive range of high-calibre financers who share the belief that most British people would like to have a news service that is more variable and representative of their concerns and values.
The Former BBC presenter has also acknowledged that GB News is a massive undertaking in a market that is fiercely competitive, adding that the GB team is confident that there is an appetite for a fresh approach to news in Northern Ireland, Britain, and the Republic of Ireland.
Expressing his opinion over the new investments, Angelos Frangopoulos, the CEO of GB News, stated that the channel represents an avenue for adding plurality to the UK media sector which is not much London-centric. The CEO has also highlighted that this marks a crucial investment in British journalism at a time when it is required the most.
As per records, Legatum, established in 2007, is renowned for its financing of the think tank, the Legatum Institute. Other than research and investment divisions, the group is also known for its closely followed Prosperity Index, which it releases on an annual basis.