Discovery sells GB News stake as directors resign in shake-up

Loss-making TV channel loses biggest investor as it faces competition from Rupert Murdoch’s TalkTV

US media group Warner Bros Discovery is to sell its stake in GB News, in a shake-up which has seen the loss-making television channel’s co-founders sell-up and resign as directors, and the remaining backers step forward with a further £60m in cash.

The fledgling news channel, which originally said its first £60m fund raising last January would last three years, has tapped Legatum Ventures and hedge fund boss Paul Marshall for more funds after just 18 months.

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