Board Moves At GB News Parent Company As Ex-Tory Minister Steps In
Lord Agnew speaking in the House of Lords, London, where he quit his role as Treasury minister and the Government and marched out the chamber over the handling of fraudulent Covid business loans. Picture date: Monday January 24, 2022. (Press Association via AP Images)
Businessman and former Conservative minister Lord Theodore Agnew will replace Sir Paul Marshall on the board of GB News’ parent company All Perspectives as Marshall steps down to pursue other interests, including a potential bid for The Telegraph.
Agnew’s appointment was confirmed by the Press Gazette on Friday. Marshall, who spearheaded GB News since its launch said he leaves the channel “on a secure growth trajectory” and that he wanted to focus on “other business and philanthropic interests.”
He added: “I remain very engaged as a co-lead investor.”
Agnew, a former cabinet and Treasury minister with a diverse business background, was also recently appointed as chair of UnHerd Ventures, publisher behind online outlet UnHerd.
“I have watched and admired the dramatic growth of GB News… GB News is a business with huge opportunity as the industry undergoes a digital transformation across existing and emerging platforms,” Agnew said, according to Press Gazette.
Despite these optimistic views, GB News faces challenging financial hurdles, with a loss of £42.4 million in the last fiscal year, escalating its total losses to £76 million since its inception. It was revealed that the channel is planning to cut about 40 roles in an effort to streamline its operations.
