And to think, we’ve always been told that going woke makes you go broke: Following two years of significant losses, GB News are reportedly lining up a number of redundancies at the channel. Changes at the very top are also expected.
Who is Sir Paul Marshall?
As per Sky News, hedge fund multi-millionaire Sir Paul Marshall is weighing up a move which will see him resign from the board of GB News’ parent company, in order to prepare a bid to try and acquire The Telegraph – if all goes to plan.
Though no final decision has been made on Marshall stepping down from his role at All Perspectives, job losses at the right-leaning news outlet are expected in the near future – amid a series of some very public ongoing issues.
Huge losses reported at GB News
The broadcaster has been reprimanded several times by OFCOM for breaching impartiality laws. On top of this, it was recently disclosed that GB News had made a loss of more than £70 million in the last two financial years.
Top stakeholders still believe their project is progressing well, hailing the ‘year-on-year growth’ shown in the viewing figures. The likes of Nigel Farage and Jacob Rees-Mogg have successfully occupied the airwaves with their respective shows.
GB News allegedly looking to ‘reduce staff numbers’
However, reality is starting to bite for GB News and its backers. It’s understood that staff were informed at a company ‘town hall meeting’ that some positions were facing the chop, adding to spate of redundancies across the media industry.
The Mail, The Times, and Open Democracy all plan to reduce their number of employees this year. Though GB News does have a loyal audience, trying market conditions could lead to more difficult decisions in the months ahead.
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