Warner Bros. Discovery is set to sell its stake in GB News, the British news channel launched in June 2021 as a right-wing alternative to BBC and ITV News.
Discovery was one of the first investors in GB News, which was hit with a series of problems and embarrassing ratings in its opening weeks, eventually losing its chairman Andrew Neil after a very public fallout.
“Following the merger between Discovery and WarnerMedia earlier this year, our portfolio now includes several proprietary news brands, including CNN Worldwide, TVN Group in Poland and Newshub in New Zealand. In light of this, and our ongoing review of our global and local investment portfolio, we have discontinued our investment in GB News and are no longer shareholders,” said Warner Bros. Discovery in a statement.
“Discovery was one of the first organizations to invest in GB News, before the founding of Warner Bros. Discovery. GB News has built a growing and loyal audience in its first year, giving the UK news broadcast a new voice, and we wish management and shareholders the very best in their future endeavours.”
After leaving GB News, Neil told the BBC that he felt “a minority of one” with the network.
“There were growing differences between me and the other senior managers and the board,” he said, adding that he left the station because he didn’t want to be part of a “British Fox News.”