Discovery Sells Gb News Stake As Directors Quit In Shakeup Gb News

The start-up news channel, which initially said its first £60m round of fundraising last January would take three years, has tapped Legatum Ventures and hedge fund chief Paul Marshall for more capital after just 18 months. The company also announced that co-founders Andrew Cole and Mark Schneider, who founded parent company GB News last February, have stepped down as directors and sold their stakes in the business. Warner Bros Discovery said its decision to exit GB News was due to streamlining its portfolio following the merger of Discovery and WarnerMedia. Discovery was the first major investor in GB News, injecting £20m from a £60m first round of funding last January. Legatum then matched this investment and became the joint largest shareholder in the business. Discovery’s desire to abandon the venture first surfaced in June. “Following the merger between Discovery and WarnerMedia earlier this year, our portfolio now includes several wholly owned news companies, including CNN Worldwide, TVN Group in Poland and Newshub in New Zealand,” a WBD spokesperson said. “In light of this and our ongoing assessment of our global and local investment portfolio, we have exited our investment in GB News and are no longer shareholders.” The latest round of funding was led by existing investors Legatum Ventures, the Dubai-based investment firm co-founded by GB News chairman Alan McCormick and Marshall. Legatum and Marshall have bought the stakes held by Discovery, Cole and Schneider. “This is testament to our confidence in the momentum and trajectory of GB News after a very strong first year,” McCormick said. “Our additional investment means the channel will embark on strong and exciting plans for the next stage of its growth and development.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. GB News, which has gradually grown in visibility since it was launched 14 months ago, has faced an advertising boycott from media agencies whose clients are wary of being associated with the channel’s editorial stance. It has also found itself in a head-to-head battle with Rupert Murdoch’s well-funded new rival TalkTV, backed by stars such as Piers Morgan, which GB News is currently beating in the official TV audience ratings. “Discovery was one of the first organizations to invest in GB News,” WBD said. “GB News has built a growing and loyal audience in its first year, bringing another voice to British news broadcasting and we wish the management and shareholders all the best in their future endeavours.” GB News said Schneider will remain a member of its editorial board and an adviser to the company. “I will continue to provide my full support for a successful future for the company,” said Schneider. However, Cole, who sat on the pension and compensation committees, is leaving to focus on his Fintech business Glow. The company said the new funding, which is expected to close in the coming weeks, will help it expand its operations. “We have already employed more than 200 journalists and will now invest more deeply in a number of areas, including a new suite of digital products, our technology and studio, subtitling, additional distribution platforms and exciting new talent,” said Angelos Fragopoulos. , the Australian managing director of GB News. GB News has announced a number of new hires, including Michael Portillo, who is joining the channel’s politics team and will start his own program in the autumn. Camilla Tominey, in addition to her position as associate editor at The Telegraph. and Andrew Pierce of the Daily Mail.

title: “Discovery Sells Gb News Stake As Directors Quit In Shakeup Gb News Klmat” ShowToc: true date: “2022-11-08” author: “Darren Rogers”

The start-up news channel, which initially said its first £60m round of fundraising last January would take three years, has tapped Legatum Ventures and hedge fund chief Paul Marshall for more capital after just 18 months. The company also announced that co-founders Andrew Cole and Mark Schneider, who founded parent company GB News last February, have stepped down as directors and sold their stakes in the business. Warner Bros Discovery said its decision to exit GB News was due to streamlining its portfolio following the merger of Discovery and WarnerMedia. Discovery was the first major investor in GB News, injecting £20m from a £60m first round of funding last January. Legatum then matched this investment and became the joint largest shareholder in the business. Discovery’s desire to abandon the venture first surfaced in June. “Following the merger between Discovery and WarnerMedia earlier this year, our portfolio now includes several wholly owned news companies, including CNN Worldwide, TVN Group in Poland and Newshub in New Zealand,” a WBD spokesperson said. “In light of this and our ongoing assessment of our global and local investment portfolio, we have exited our investment in GB News and are no longer shareholders.” The latest round of funding was led by existing investors Legatum Ventures, the Dubai-based investment firm co-founded by GB News chairman Alan McCormick and Marshall. Legatum and Marshall have bought the stakes held by Discovery, Cole and Schneider. “This is testament to our confidence in the momentum and trajectory of GB News after a very strong first year,” McCormick said. “Our additional investment means the channel will embark on strong and exciting plans for the next stage of its growth and development.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. GB News, which has gradually grown in visibility since it was launched 14 months ago, has faced an advertising boycott from media agencies whose clients are wary of being associated with the channel’s editorial stance. It has also found itself in a head-to-head battle with Rupert Murdoch’s well-funded new rival TalkTV, backed by stars such as Piers Morgan, which GB News is currently beating in the official TV audience ratings. “Discovery was one of the first organizations to invest in GB News,” WBD said. “GB News has built a growing and loyal audience in its first year, bringing another voice to British news broadcasting and we wish the management and shareholders all the best in their future endeavours.” GB News said Schneider will remain a member of its editorial board and an adviser to the company. “I will continue to provide my full support for a successful future for the company,” said Schneider. However, Cole, who sat on the pension and compensation committees, is leaving to focus on his Fintech business Glow. The company said the new funding, which is expected to close in the coming weeks, will help it expand its operations. “We have already employed more than 200 journalists and will now invest more deeply in a number of areas, including a new suite of digital products, our technology and studio, subtitling, additional distribution platforms and exciting new talent,” said Angelos Fragopoulos. , the Australian managing director of GB News. GB News has announced a number of new hires, including Michael Portillo, who is joining the channel’s politics team and will start his own program in the autumn. Camilla Tominey, in addition to her position as associate editor at The Telegraph. and Andrew Pierce of the Daily Mail.

title: “Discovery Sells Gb News Stake As Directors Quit In Shakeup Gb News Klmat” ShowToc: true date: “2022-11-20” author: “Joe Harris”

The start-up news channel, which initially said its first £60m round of fundraising last January would take three years, has tapped Legatum Ventures and hedge fund chief Paul Marshall for more capital after just 18 months. The company also announced that co-founders Andrew Cole and Mark Schneider, who founded parent company GB News last February, have stepped down as directors and sold their stakes in the business. Warner Bros Discovery said its decision to exit GB News was due to streamlining its portfolio following the merger of Discovery and WarnerMedia. Discovery was the first major investor in GB News, injecting £20m from a £60m first round of funding last January. Legatum then matched this investment and became the joint largest shareholder in the business. Discovery’s desire to abandon the venture first surfaced in June. “Following the merger between Discovery and WarnerMedia earlier this year, our portfolio now includes several wholly owned news companies, including CNN Worldwide, TVN Group in Poland and Newshub in New Zealand,” a WBD spokesperson said. “In light of this and our ongoing assessment of our global and local investment portfolio, we have exited our investment in GB News and are no longer shareholders.” The latest round of funding was led by existing investors Legatum Ventures, the Dubai-based investment firm co-founded by GB News chairman Alan McCormick and Marshall. Legatum and Marshall have bought the stakes held by Discovery, Cole and Schneider. “This is testament to our confidence in the momentum and trajectory of GB News after a very strong first year,” McCormick said. “Our additional investment means the channel will embark on strong and exciting plans for the next stage of its growth and development.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. GB News, which has gradually grown in visibility since it was launched 14 months ago, has faced an advertising boycott from media agencies whose clients are wary of being associated with the channel’s editorial stance. It has also found itself in a head-to-head battle with Rupert Murdoch’s well-funded new rival TalkTV, backed by stars such as Piers Morgan, which GB News is currently beating in the official TV audience ratings. “Discovery was one of the first organizations to invest in GB News,” WBD said. “GB News has built a growing and loyal audience in its first year, bringing another voice to British news broadcasting and we wish the management and shareholders all the best in their future endeavours.” GB News said Schneider will remain a member of its editorial board and an adviser to the company. “I will continue to provide my full support for a successful future for the company,” said Schneider. However, Cole, who sat on the pension and compensation committees, is leaving to focus on his Fintech business Glow. The company said the new funding, which is expected to close in the coming weeks, will help it expand its operations. “We have already employed more than 200 journalists and will now invest more deeply in a number of areas, including a new suite of digital products, our technology and studio, subtitling, additional distribution platforms and exciting new talent,” said Angelos Fragopoulos. , the Australian managing director of GB News. GB News has announced a number of new hires, including Michael Portillo, who is joining the channel’s politics team and will start his own program in the autumn. Camilla Tominey, in addition to her position as associate editor at The Telegraph. and Andrew Pierce of the Daily Mail.

title: “Discovery Sells Gb News Stake As Directors Quit In Shakeup Gb News Klmat” ShowToc: true date: “2022-11-10” author: “Dorothy Toban”

The start-up news channel, which initially said its first £60m round of fundraising last January would take three years, has tapped Legatum Ventures and hedge fund chief Paul Marshall for more capital after just 18 months. The company also announced that co-founders Andrew Cole and Mark Schneider, who founded parent company GB News last February, have stepped down as directors and sold their stakes in the business. Warner Bros Discovery said its decision to exit GB News was due to streamlining its portfolio following the merger of Discovery and WarnerMedia. Discovery was the first major investor in GB News, injecting £20m from a £60m first round of funding last January. Legatum then matched this investment and became the joint largest shareholder in the business. Discovery’s desire to abandon the venture first surfaced in June. “Following the merger between Discovery and WarnerMedia earlier this year, our portfolio now includes several wholly owned news companies, including CNN Worldwide, TVN Group in Poland and Newshub in New Zealand,” a WBD spokesperson said. “In light of this and our ongoing assessment of our global and local investment portfolio, we have exited our investment in GB News and are no longer shareholders.” The latest round of funding was led by existing investors Legatum Ventures, the Dubai-based investment firm co-founded by GB News chairman Alan McCormick and Marshall. Legatum and Marshall have bought the stakes held by Discovery, Cole and Schneider. “This is testament to our confidence in the momentum and trajectory of GB News after a very strong first year,” McCormick said. “Our additional investment means the channel will embark on strong and exciting plans for the next stage of its growth and development.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. GB News, which has gradually grown in visibility since it was launched 14 months ago, has faced an advertising boycott from media agencies whose clients are wary of being associated with the channel’s editorial stance. It has also found itself in a head-to-head battle with Rupert Murdoch’s well-funded new rival TalkTV, backed by stars such as Piers Morgan, which GB News is currently beating in the official TV audience ratings. “Discovery was one of the first organizations to invest in GB News,” WBD said. “GB News has built a growing and loyal audience in its first year, bringing another voice to British news broadcasting and we wish the management and shareholders all the best in their future endeavours.” GB News said Schneider will remain a member of its editorial board and an adviser to the company. “I will continue to provide my full support for a successful future for the company,” said Schneider. However, Cole, who sat on the pension and compensation committees, is leaving to focus on his Fintech business Glow. The company said the new funding, which is expected to close in the coming weeks, will help it expand its operations. “We have already employed more than 200 journalists and will now invest more deeply in a number of areas, including a new suite of digital products, our technology and studio, subtitling, additional distribution platforms and exciting new talent,” said Angelos Fragopoulos. , the Australian managing director of GB News. GB News has announced a number of new hires, including Michael Portillo, who is joining the channel’s politics team and will start his own program in the autumn. Camilla Tominey, in addition to her position as associate editor at The Telegraph. and Andrew Pierce of the Daily Mail.

title: “Discovery Sells Gb News Stake As Directors Quit In Shakeup Gb News Klmat” ShowToc: true date: “2022-11-23” author: “Stephanie Ali”

The start-up news channel, which initially said its first £60m round of fundraising last January would take three years, has tapped Legatum Ventures and hedge fund chief Paul Marshall for more capital after just 18 months. The company also announced that co-founders Andrew Cole and Mark Schneider, who founded parent company GB News last February, have stepped down as directors and sold their stakes in the business. Warner Bros Discovery said its decision to exit GB News was due to streamlining its portfolio following the merger of Discovery and WarnerMedia. Discovery was the first major investor in GB News, injecting £20m from a £60m first round of funding last January. Legatum then matched this investment and became the joint largest shareholder in the business. Discovery’s desire to abandon the venture first surfaced in June. “Following the merger between Discovery and WarnerMedia earlier this year, our portfolio now includes several wholly owned news companies, including CNN Worldwide, TVN Group in Poland and Newshub in New Zealand,” a WBD spokesperson said. “In light of this and our ongoing assessment of our global and local investment portfolio, we have exited our investment in GB News and are no longer shareholders.” The latest round of funding was led by existing investors Legatum Ventures, the Dubai-based investment firm co-founded by GB News chairman Alan McCormick and Marshall. Legatum and Marshall have bought the stakes held by Discovery, Cole and Schneider. “This is testament to our confidence in the momentum and trajectory of GB News after a very strong first year,” McCormick said. “Our additional investment means the channel will embark on strong and exciting plans for the next stage of its growth and development.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. GB News, which has gradually grown in visibility since it was launched 14 months ago, has faced an advertising boycott from media agencies whose clients are wary of being associated with the channel’s editorial stance. It has also found itself in a head-to-head battle with Rupert Murdoch’s well-funded new rival TalkTV, backed by stars such as Piers Morgan, which GB News is currently beating in the official TV audience ratings. “Discovery was one of the first organizations to invest in GB News,” WBD said. “GB News has built a growing and loyal audience in its first year, bringing another voice to British news broadcasting and we wish the management and shareholders all the best in their future endeavours.” GB News said Schneider will remain a member of its editorial board and an adviser to the company. “I will continue to provide my full support for a successful future for the company,” said Schneider. However, Cole, who sat on the pension and compensation committees, is leaving to focus on his Fintech business Glow. The company said the new funding, which is expected to close in the coming weeks, will help it expand its operations. “We have already employed more than 200 journalists and will now invest more deeply in a number of areas, including a new suite of digital products, our technology and studio, subtitling, additional distribution platforms and exciting new talent,” said Angelos Fragopoulos. , the Australian managing director of GB News. GB News has announced a number of new hires, including Michael Portillo, who is joining the channel’s politics team and will start his own program in the autumn. Camilla Tominey, in addition to her position as associate editor at The Telegraph. and Andrew Pierce of the Daily Mail.