GB News reports losses of £31m after first year on air
The broadcaster has paid substantial sums to attract politicians and on-screen talent including Nigel Farage, Arlene Foster, and Conservative MP Jacob Rees-Mogg
Conservative British TV channel GB News has reported losses of £31 million after its first year on the airwaves.
The right-wing British television and radio channel first launched in June 2021 with promises to ‘shake up’ broadcasting, famously opening with Andrew Neil announcing: “We are proud to be British – the clue is in the name”.
However, it quickly suffered an advertiser boycott shortly after its debut with brands including Sainsbury’s and Ikea pulling ads from its channel.
Airing with shows from big names like ex-BBC journalist Andrew Neil, ex-UKIP Leader Nigel Farage, Daily Mail columnist Dan Wooton and ex-Sky broadcaster Colin Brazier amongst others, it has spent huge sums to attract on-screen talent and a year on its Companies House accounts for the year to 31 May 2022 report a loss of £30.7m.
The accounts show that GB News Limited reported advertising revenues of £2.97m, digital revenues of £564,000 and sponsorship revenue of £105,664, however, the cost of sales stood at £25.4m and operating expenses at £8.9m.
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Yet the business has said that its directors are ‘satisfied’ with the results for the year and expect growth in the future.
Conservative politician Jacob Reese Mogg hosts a regular show on the channel called ‘State of the Nation’. / Image: GB News / Youtube
The reports follow warnings from bosses in February that the channel faced a tough financial environment, as they revealed it is now being financially supported by Brexiteer hedge fund tycoon Sir Paul Marshall and Dubai-based investment company Legatum.
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At the start of March, the broadcaster moved its website from gbnews.uk to gbnews.com, which a spokesperson said: “allows us to reach a much larger potential global audience”.
The broadcaster has paid substantial sums to attract politicians and other talents including Nigel Farage, Arlene Foster, and Conservative MPs Esther McVey and Philip Davies.
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According to PA Media, McVey was paid £58,650 by GB News in 2022 and Davies £46,203.
Press Gazette also found in December that GB News had spent more than any other publisher on payments to MPs, dishing out a total of £82,040 between October 2021 and September 2022.
Since then the company has hired two more sitting Conservative parliamentarians, Jacob Rees-Mogg and Lee Anderson, to host shows on the platform.
GB News said its average monthly reach according to BARB was 2.32 million in the 2021/22 financial year, an average linear audience share of 0.3%. A spokesperson said this figure had risen to 2.84 million by February this year.
Sir Jim Ratcliffe has increased his stake in Manchester United
Danny Jones
Sir Jim Ratcliffe has increased his investment in Manchester United Football Club, taking his current stake from 27.7% to 28.94%.
The Failsworth-born billionaire officially became a minority shareholder in Man United earlier this year, bringing in the Sports arm of his INEOS petrochemical company and plenty of new personnel with him following an initial £1.25 billion acquisition which saw him buy over a quarter of the club.
While his tenure at Old Trafford has been a somewhat turbulent affair so far – having pleased most fans by taking at least some control away from the family but making a number of less-than-popular decisions of late – he is, at the very least, putting lots of money where his mouth is.
Sir Jim Ratcliffe has injected a further $100m into Manchester United and now owns 28.94% of the club. This completes a planned $300m investment pledged at the time of purchase. $200m was paid back then out of Ratcliffe’s personal funds.
As per multiple outlets, the 72-year-old has pumped a further of approximately £79.3m into Man United to increase his overall stake just before the end of the year.
This latest figure payment was actually promised as part of his initial partial takeover which was completed back in February, with a filing listed by the Securities and Exchange Commission (SEC) confirming the final payment this week, with Ratcliffe receiving additional shares in return.
It also detailed that the ownership of the shares has transferred from Ratcliffe personally to the INEOS Group as a whole, who also have stakes in French football club OGC Nice, the INEOS Grenaiders cycling team (formerly Team Sky), as well as Formula 1, sailing, rugby and more.
Although supporters will be pleased to hear that Ratcliffe is committed to investing in the club, Keegan’s article details that the money itself won’t be strictly put towards any potential signings in the upcoming transfer window.
Similarly, Press Associates (PA) understand that the funds will be put towards infrastructure rather than player recruitment, as it is also expected that some squad members could be offloaded this January.
Could Man United’s homegrown number 10 really be on his way out after nearly two decades in red?
News of Ratcliffe increasing his United stake won’t do much for many of his early detractors, however, as the Greater Manchester local has been accused of ‘forgetting his roots’ and ‘betraying the working class’ with some recent internal steps.
Most recently, Sir Jim and his newly rebuilt executive board received immense backlash for increasing ticket prices for remaining games this season to a whopping £66 across the board, with no concessions made for young, old or disabled fans.
With sporting director Dan Ashworth having been dismissed after just five months – a man who spent just as much time on gardening leave at his former club as he did in his actual role at United – it’s fair to say Ratcliffe and co. could have been more economical.
Manchester locals appealing for more information over a month after from finding family member’s body
Danny Jones
A Greater Manchester family are still calling for more information now over a month on from the discovery of a man’s body at his Chorlton home.
William Riddell, 49, was found dead in the bedroom of a property on Astbury Avenue at approximately 11:35pm on Sunday, 10 November after being found by his stepdaughter, Sarah Hayden.
Details surrounding his passing are still scarce but a 47-year-old man was arrested on suspicion of murder but has since been released on bail “pending further enquiries”, leaving Sarah and the rest of her family still none the wiser as to the exact nature of his death.
Preparing to spend their first Christmas without him, they have issued a desperate appeal for more information, urging anyone who might have information to come forward.
#APPEAL | The family of a man who died last month are appealing to the public for information as they face their first Christmas without him.
Billy Riddell was sadly found dead at his property in Manchester, with enquiries continuing.
Riddell, more commonly known as Billy by those close to him, was described as a “good, caring man with a big heart” and a popular figure in the local area.
Speaking via Greater Manchester Police, Sarah, said: “I want to be Billy’s voice and get answers for him. Billy was a nice and lovely man and all the community knew who he was. He was well-liked and we gave him a good send-off at his funeral.
“I would just ask anyone who knew him or has any information to come forward and tell police. Even if you think it’s a little or small thing – please come forward. We just want to get to the bottom of what has happened.”
Detective Inspector Alex Wilkinson, who serves on GMP‘s Major Incident Team, added in an official statement: “The family of Billy deserve answers following his death and we are working hard to ensure they get exactly that.
“We have closely supported Sarah and the wider family over the last month, and we will continue to provide assistance wherever we can as they face their first Christmas without him.
“While a suspect has been bailed, we are still working flat-out to understand more about Billy’s life, the people he was close to, and events leading up to his death just over a month ago.”
With that in mind, both GMP and Riddell’s family are asking anyone who might know anything or have information regarding people associated with Billy to come forward, reiterating that “even if you consider something to be small – your help could greatly benefit our investigation.”
You can contact police via 101 or by using the live chat function HERE, quoting log 3227 of 10/11/24.
Alternatively, you can contact the UK’s independent charity, Crimestoppers, anonymously on 0800 555 111 or online.
Georgina Pellant -
10th March 2023 
