GB News is owned by All Perspectives Ltd, a holding company backed by hedge fund millionaire Sir Paul Marshall and investment firm Legatum, amongst others, with Marshall pumping millions into the channel.
Right-wing channel GB News is reporting a 40% increase in losses to over £42 million.
Pre-tax losses at the broadcaster hit £42.4m for the year to the end of May 2023, up from £30.7m a year earlier.
It comes as GB News continues to splash the cash on a number of high-profile presenters, including the likes of Nigel Farage, Jacob Rees Mogg and Boris Johnson. The channel’s wage bill soared to £21.2m last year, from £12.7m in 2022 as the average number of monthly employees rose to 295, up from 175 in 2022.
Media watchdog Ofcom has once more found GB news to be in breach of broadcasting rules.
The regulator ruled that an episode of Dan Wootton Tonight on GB News in which the former actor Laurence Fox questioned who would want to “shag” a female journalist broke broadcasting rules.
Fox’s disgraceful comments about JOE Media’s political correspondent Ava Evans led to 8,867 complaints being made.
In a statement, Ofcom said: “We found that Mr Fox’s comments constituted a highly personal attack on Ms Evans and were potentially highly offensive to viewers. They reduced her contribution to a broadcast discussion on mental health – in her professional capacity as a political journalist – to a judgment on whether she, or women like her who publicly expressed their political opinions, were sexually desirable to men.
“As such, we considered that Mr Fox’s comments were degrading and demeaning both to Ms Evans and women generally and were clearly and unambiguously misogynistic.”
GB News was left embarrassed after the right-wing channel’s own poll showed that an overwhelming majority of respondents want to rejoin the EU, not a result that the channel would’ve been happy with.
Over the weekend, eight years after Britain left the EU, GB News decided to carry out a poll to gauge public opinion on Brexit. They would’ve done well to remember that a number of polls over recent months have shown that a majority favour rejoining the EU, with the demand to reverse Brexit reaching is highest ever level in one poll.
However, GB News decided to put their poll behind a paywall, meaning that only paying readers could participate. Author Edwin Hayward then decided to tweet a link to the poll which bypassed the paywall, allowing others to join in on the voting.
With a wider sample now participating in the poll, the overwhelming majority of votes went to rejoin, with over 90% of voting to rejoin the EU.
Philippa Stroud, chair of the government’s Low Pay Commission, and CEO of the Alliance for Responsible Citizenship. Credit: ARC(CC0 1.0 DEED)
Tory peer Philippa Stroud, who has close ties to the funders of GB News, has been elevated to a senior advisory role by the government.
A new government advisor on the minimum wage is the head of an international network of climate crisis deniers funded by the owners of GB News, DeSmog can reveal.
Philippa Stroud was appointed chair of the Low Pay Commission, a body reporting to Kemi Badenoch’s Department of Business and Trade, on 30 January. The government-appointed role pays £530 per day for three days of work per month (£19,114 per year).
The Conservative peer is the CEO of the Alliance for Responsible Citizenship (ARC), a new pressure group that shares its funders with GB News and is linked to some of the world’s most prominent climate crisis deniers, including psychologist Jordan Peterson. Stroud has been described by The Telegraph as “the most powerful right-winger you’ve never heard of”.
The appointment comes as senior Conservative Party figures continue to embrace anti-climate politics. On 6 February, former prime minister Liz Truss attacked “net zero zealots” at the launch of her new Popular Conservatism faction.
Last month, Energy Security and Net Zero Secretary Clare Coutinho met with and praised fuel pricing lobbyist Howard Cox, a Reform UK candidate who wants to “scrap net zero” and claims that “man is not responsible for global warming”.
The government is also pushing ahead with legislation that would require the awarding of annual North Sea oil and gas licences. The Climate Change Committee, the independent body that advises the government on its net zero policies, warned on 30 January that mixed messages, including new fossil fuel projects, have damaged the UK’s international climate standing.
Last year was the first on record to see consistent global warming of 1.5C, according to the EU’s Copernicus Climate Change Service.
DeSmog has previously revealed that the Conservative Party received £3.5 million in donations from fossil fuel interests and climate science deniers in 2022.
Stroud’s appointment also cements the relationship between the Conservative Party and GB News. On Monday, Prime Minister Rishi Sunak took part in an hour-long town hall event on GB News, following the example of several Conservative MPs who are regular guests and presenters on the right-wing broadcaster.
Stroud’s ARC project is run by hedge fund manager Paul Marshall and the UAE-based Legatum Group, GB News’s principal backers. The Legatum Institute, a think tank funded by the Legatum Group, gave £50,000 to a faction of the Conservative Party in December. Before taking up her post at ARC, Stroud was CEO of the Legatum Institute.
“Anti-science climate change denialism has become the secret handshake that ushers in the faithful and bars the door to unbelievers,” Jolyon Maugham, executive director of the Good Law Project, told DeSmog. “This is an appalling betrayal of the principles of sound government – and of our children who need us to be led by science and not by the financial interests of wealthy Tory donors.”
ARC, Stroud, the Legatum Group, and the Low Pay Commission were approached for comment.
ARC and Legatum
Philippa Stroud was made a life peer by then prime minister David Cameron (now foreign secretary) in 2015, after failing to win a parliamentary seat in 2010.
The Legatum Group, which has employed Stroud both directly and indirectly since 2016, is one of the largest shareholders in GB News, which frequently attacks climate science and policies. A DeSmog investigation found that one in three GB News hosts spread climate denial on air in 2022.
GB News’s other major owner is British billionaire Paul Marshall, chairman and chief investment officer of the hedge fund Marshall Wace. DeSmog revealed that, as of June 2023, Marshall Wace owned shares worth $2.2 billion (£1.8 billion) in fossil fuel firms. This included a $213 million (£175.6 million) shareholding in the oil and gas supermajor Chevron, as well as stakes in Shell, Equinor, and 109 other fossil fuel companies.
In her statement announcing the launch of ARC, Stroud took aim at climate policies, writing that “we risk driving policy interventions to address environmental concerns without having an honest conversation about the trade-offs for the poor at home or in developing and emerging nations”.
Poor and indigenous groups in developing countries will be hit hardest by the impacts of climate change, while those suffering from poverty at home have seen their energy bills soar as successive governments have failed to implement green reforms.
ARC is fronted by Canadian author Jordan Peterson, who regularly posts about “climate apocalypse insanity” and “eco fascists” to his millions of online followers. Peterson has promoted fringe climate crisis deniers on his YouTube channel and, as revealed by DeSmog, plans to open a new online school also featuring several climate crisis deniers.
ARC’s advisory board includes writers Bjorn Lomborg and Michael Shellenberger, both of whom have written books downplaying the threats posed by climate change, as well as Tony Abbott, the former prime minister of Australia and a director of the Global Warming Policy Foundation (GWPF), the UK’s principal climate science denial group.
Late last year, speaking on the outskirts of ARC’s launch conference in London, Abbott claimed climate change has “nothing to do with mankind’s emissions”. ARC advisor Vivek Ramaswamy, who also spoke at the conference, has called climate change a “hoax” and has said that “real emergency isn’t climate change, it’s the man-made disaster of climate change policies that threaten US prosperity.”
The UN’s Intergovernmental Panel on Climate Change (IPCC), the world’s leading climate science body, states it is “unequivocal” that human influence has caused “unprecedented” global warming.
Kemi Badenoch, whose department appointed Stroud to her new advisory role, also spoke at the ARC conference alongside Levelling Up Secretary Michael Gove. The pair were joined by a number of Conservative MPs.
Stroud’s appointment to the government’s Low Pay Commission was first trailed by The Telegraph in December. A “Whitehall source” told the paper that Stroud was selected for the three-year post to block a possible left-wing appointment by a Labour government.
Carla Denyer, Green Party co-leader and its parliamentary candidate for Bristol Central said that Stroud’s appointment was “hardly the most appropriate” and that “the Conservatives seem set on placing their people across the quango world before the general election.”
Rishi Sunak on stopping Rosebank says that any chancellor can stop his huge 91% subsidy to build Rosebank, that Keir Starmer is as bad as him for sucking up to Murdoch and other plutocrats and that we (the plebs) need to get organised to elect MPs that will stop Rosebank.
It has led to calls for tougher repercussions for repeat rule breaks
GB News has been found in breach of impartiality rules for the fifth time this year after Ofcom launched an investigation into the channels campaign “Don’t Kill Cash”.
Six separate investigations were initiated after complaints were raised to the regulator, with this case being the first to conclude and concerning an episode of The Live Desk.
The programme had promoted the campaign, which called on viewers to sign a petition for the Government to introduce legislation to protect the status of cash as legal tender and as a widely accepted means of payment in the UK until at least 2050.
Ofcom ruled the programme ‘failed to preserve due impartiality in its coverage of this matter, with only limited references to different perspectives’.
The regulator cited rule 5.4 of the Broadcasting Code which sets out that ‘all broadcasters’ programmes exclude all expressions of the views and opinions of the person providing the service on matters of political or industrial controversy or current public policy’.
The issue was found to be a matter of political debate as the Financial Services and Markets Bill was due to receive Royal Assent four days before GB News launched the campaign, so it was seen as ‘representing an attempt to influence Government policy’.
There are a further five GB News programmes under investigation by the regulators in relation to this campaign, with the outcomes to be published ‘in due course’.
