Marshall is set to ‘hand over his board seat at All Perspectives to Lord Agnew, chair of the UnHerd Ventures vehicle he bankrolls’, Sky reported.
In a major blow to right-wing channel GB News, Paul Marshall, one of its major bankrollers, is set to quit its board amid planned redundancies.
GB News is owned by All Perspectives Ltd, a holding company backed by hedge fund millionaire Marshall and investment firm Legatum, amongst others, with Marshall pumping millions into the channel.
Sky News has reported earlier today that Marshall, the hedge fund tycoon, is preparing to step down from the board of GB News’ parent company as he eyes a renewed bid to acquire The Daily Telegraph.
Marshall is set to ‘hand over his board seat at All Perspectives to Lord Agnew, chair of the UnHerd Ventures vehicle he bankrolls’, Sky reported.
The co-founder of Marshall Wace and largest shareholder in the television news channel, is eyeing up a bid to acquire the Spectator and Telegraph, which, if successful, would make him the most powerful figure in UK media since Rupert Murdoch.
News of board changes at All Perspectives comes as GB News prepares to make redundancies.
Marshall drew widespread criticism in February, following an investigation by anti-extremist organisation Hope not Hate, which found that he had shared and liked multiple far-right, Islamophobic, homophobic, conspiracy theory posts.
Basit Mahmood is editor of Left Foot Forward
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