GB News has agreed a deal that will see a new £60m capital injection into the fledgling news broadcaster.
The station, which describes itself as "the people's news channel", launched in June 2021 and offers a schedule of discussion-led topical programmes, positioning itself as an alternative to establishment broadcasters such as Sky, the BBC and Channel 4.
The new funding comes from shareholders Legatum Ventures Limited and Sir Paul Marshall, who have bought out Discovery from the venture as part of the move.
"This is testament to our confidence in the momentum and trajectory of GB News after a very strong first year," said Alan McCormick of Legatum.
"Our additional investment means the channel will embark on robust and exciting plans for the next stage of its growth and development."
Angelos Frangopoulos, GB News' chief exec, said that the money would be spent on new programming, improvements to the channel's studio and provision of subtitles, among other new developments.
The channel has also confirmed three new talent appointments: Camilla Tominey, in a new "senior political reporting role"; Andrew Pierce, who will launch his own show later this year; and former politician Michael Portillo, who will also get his own programme from the autumn.
The investment has also allowed GB News to win a bid to move higher up the EPG on Virgin Media from channel 626 to the plum 604 slot in the news section.
Neil Wilkes
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