City tycoon Marshall tunes into £60m GB News fundraising

City tycoon Marshall tunes into £60m GB News fundraising

One of the City's most prominent hedge fund managers is preparing to invest millions of pounds in GB News, the fledgling current affairs broadcasting company which is targeting a launch into British homes next year.Sky News has learnt that Sir Paul Marshall, the co-founder of Marshall Wace, is in advanced talks about injecting approximately £10m into GB News.

Sources said that an announcement about the new channel's fundraising could be made in the coming days once it has finalised the line-up of its founding shareholders.The funding would bolster the firepower of a business which wants to challenge Sky News and other established rivals by providing an alternative approach to news and current affairs broadcasting in the UK.GB News has appointed Andrew Neil, the veteran journalist, as its chairman, and is in the process of recruiting scores of staff ahead of a launch expected in the first half of 2021.