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Originally Posted by Mick
Does no one bother to read news articles properly anymore?
No they have not burned through £60 million at all, £60 million was to keep them going for three years. Discovery has walked away only because of them merging with Warner Bros, their investment being bought out by its existing backers, with an “additional” £60 million funding.
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Why is the extra £60m being given to GB News now if they've not spent the original £60m, which was meant to last three years? Shareholders don't usually just give money to a company for them just to put it in the bank.
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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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