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GB News, the right-leaning TV broadcaster, said that it remained dependent on financing from investors including hedge fund boss Sir Paul Marshall after posting another annual loss.
Accounts on Tuesday in Companies House show that GB News received funding of £17.7mn in 2025 from its parent company All Perspectives Ltd, while also passing on an additional £5.3mn to its owners.
Although a reduction from the £28.8mn needed the previous year, the fresh funding takes the total balance due to its parent company to £141mn, showing the level of support needed from its deep-pocketed backers to support the launch of a new news channel in the UK.
GB News, whose presenters include several current and former MPs such as Reform leader Nigel Farage, posted a loss of £22mn in the 2024/25 financial year, narrower than the £32.7mn reported the year before, on the back of growing audiences both online and over its TV channel. Revenue for the broadcaster rose to £26.2mn, from £16.5mn. Advertising revenues rose to £14.3mn, from £9.6mn in 2024.
The broadcaster launched in 2021 with backing from Marshall, who owns more than a third of All Perspectives, alongside Legatum, a Dubai-based investment firm that also has a large stake.
The channel has proven controversial since its launch, breaching the broadcasting code over rulings about a lack of due impartiality on some shows but also shaking up the conventions over how news and current affairs are broadcast in the UK.
Separate accounts for All Perspectives show that it received a further £29mn in convertible loan notes last year to support its operations, up from £10mn in 2024. This took convertible debt through the loan notes to £40.4mn at May 31 2025.
But the accounts show that last month these convertible loan notes were then converted to so-called Simple Agreement for Future Equity notes, which can be swapped into equity in the company on or before January 2031.
GB News said that its owners had confirmed they will provide funding sufficient to cover any expected deficit in future.
All Perspectives sunk to a loss of £29.7mn but has managed to reduce the deficit from £35.8mn in 2024.
GB News said: “The directors are confident about the future of the group, and we remain firmly on track to achieve our ambition of becoming the UK’s biggest news channel by 2028.”
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