Andrew Neil Warns GB News’ Rich ‘Ideological’ Owners Won’t Cover ‘Huge Losses’ Forever
Andrew Neil was one of the original hosts at GB News, before quitting just eight shows in. (Nick Ansell/PA Wire URN:64904554 / Press Association via AP Images)
Veteran news journalist and former GB News chairman Andrew Neil warned that “something will have to give” at the network after Tuesday brought reports of the channel’s £75 million loss making position coupled with the complete shutdown of rival TalkTV’s linear operation to go fully digital.
Taking to X to share his thoughts, Neil revealed that at the beginning GB News aimed to break even in its third year but from a look at FY23 accounts posted to Companies House he reflected that that “ain’t gonna happen.”
The Scotsman went on to criticise the network’s primary owners, hedge fund manager Sir Paul Marshall and Legatum Ventures Ltd, who he said knew “nothing about TV or TV news” and were on “an ideological kick.”
Indeed, it’s the owners who have been picking up most of the channel’s expenditure since its inception in 2021. With its Tory-studded roster and aggressive expansion efforts, GB News is hamstrung by mounting debt and repeated investigations by media watchdog Ofcom, that have resulted in the suspension and firing of some big name hosts.
Although GB News’ owners have “deep pockets”, Neil continued, the decision by News UK to axe TalkTV’s broadcast channel should stand as a warning that “even ideological folks as rich as Rupert Murdoch can’t/won’t stump up for huge losses indefinitely.”
Neil, a household name after a four decade career in British print and television media, now works as chair at The Spectator. He began as GB News’ flagship host at the network’s launch but quit after just 8 shows due to disagreements over its political direction.
