It hasn’t gone quite as planned for the channel which promised to be ‘boldly different’.
Right-leaning channel GB News has lost half of its value after Discovery decided to withdraw its investment.
Just a year after its launch, Discovery which was one of the earliest investors in GB News announced that it was selling its stake. The channel was hit with a string of issues and embarrassing ratings in its opening weeks.
The Times has reported on accounts filed by Discovery’s UK arm at Companies House, Discovery, which bought its 25% share for £20 million, but sold it for just £8 million.
The paper says: “The share sale values the right-of-centre news channel, whose presenters include the former Ukip leader Nigel Farage and former ITV star Eamonn Holmes, at £32 million, compared with £80 million when it launched in June last year.”
It hasn’t gone quite as planned for the channel which promised to be ‘boldly different’.
GB news has also previously been accused of platforming dangerous climate change deniers. The channel was also subjected to an Ofcom investigation after one of its hosts made misleading claims about the Coivid-19 booster vaccines.
Basit Mahmood is editor of Left Foot Forward
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