Britain’s most Islamophobic TV news channel, GB News, lost £22 million in the year ending May 2025, which means its cumulative losses have now exceeded £130 million.
The channel remains afloat only because wealthy backers continue pouring money into it, with critics saying they only do so to propel Reform UK into political power.
GB News’s revenue did rise in this latest period, but critics point out revenue growth does not offset the scale of losses.
The channel launched in June 2021 promising a new voice in British broadcasting. It pitched itself as an alternative to mainstream news outlets.
Its main financial backing comes from figures with clear business and political profiles, not anonymous grassroots supporters.
One of its main financial investors is Sir Paul Marshall, a British hedge fund manager worth hundreds of millions who co‑founded Marshall Wace, one of Europe’s largest hedge funds.
Marshall also owns media outlets including UnHerd and The Spectator, and has donated to political causes including the Brexit campaign and Conservative Party.
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The other major investor is Legatum, a Dubai‑based investment firm that holds a ownership stake in GB News through its parent company All Perspectives Ltd.
The involvement of an overseas‑linked capital group contrasts sharply with GB News’ nationalist branding, exposing an irony in its narrative of “British independence” while relying on foreign-based funding.
Feeding the far-right
GB News has filled its schedule with right‑leaning personalities. Figures like Nigel Farage and Sir Jacob Rees‑Mogg have been regular fixtures on its programmes.
Opposition voices say this creates an echo chamber rather than balanced journalism. They argue the channel prioritises political influence over impartial reporting.
From its early days, GB News struggled to attract advertisers. Many brands pulled ads amid concerns about association with inflammatory content.
Some advertisers have returned. But pressure groups still call on firms to avoid the channel because its tone can deepen social divisions.
Critics also note tension between foreign funding and nationalist messaging. They say the involvement of overseas investors undermines the channel’s claimed commitment to British values.
Islamophobia
in 2024, a two-year analysis by the Centre for Media Monitoring claimed that GB News exhibits a structural bias against Islam and Muslims, suggesting its coverage is excessively negative and “obsessively” focused on Muslim communities in the UK.
The report said GB News disproportionately highlights Muslims in its output, often frames them negatively, rarely includes Muslim voices, and risks fuelling community tensions and misunderstanding.
GB News dismissed the findings as defamatory and an attempt to curtail free speech.
it 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.”
