Discovery sells GB News stake as directors resign in shake-up
by Mark Sweney and Jim Waterson from World news | The Guardian on (#62N7Q)
Loss-making TV channel loses major 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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