All Perspectives Ltd

What does All Perspectives Ltd own?
All Perspectives Ltd owns GB News Limited, the British news television channel, radio station, and digital media platform. GB News operates a free-to-air TV channel available on Freeview, Sky, Virgin Media, and Freesat, a radio station on DAB digital radio, and a website with social media channels. All Perspectives is the sole parent company of GB News and does not own other media properties. Sir Paul Marshall, the primary shareholder, separately owns or has interests in The Spectator and UnHerd, but these are not owned by All Perspectives Ltd.

Is All Perspectives Ltd publicly traded?
No, All Perspectives Ltd is a private limited company and is not publicly traded. The company is owned by Sir Paul Marshall and Legatum Ventures Limited. Marshall, a billionaire hedge fund manager and co-founder of Marshall Wace, is the largest individual shareholder. Legatum Ventures, a Dubai-based investment firm, holds a 37.8% stake. No shares are available for public purchase.

Who founded All Perspectives Ltd?
All Perspectives Ltd was incorporated on September 25, 2019, as the parent company for GB News. The company was established by Sir Paul Marshall and Legatum Ventures as the investment vehicle for launching GB News. Andrew Neil, the veteran broadcaster, was the channel's first chairman and played a key role in the channel's conception and launch. Angelos Frangopoulos was recruited as CEO from Sky News Australia.

Where is All Perspectives Ltd headquartered?
All Perspectives Ltd is headquartered at The Point, 37 North Wharf Road, London, W2 1AF, United Kingdom. This address serves as the registered office for both All Perspectives Ltd and GB News Limited. The company's studios and production facilities are located at this address.

How many brands does All Perspectives Ltd own?
All Perspectives Ltd owns one brand: GB News. The GB News brand encompasses the television channel, radio station, website, and social media channels. The company does not own other media brands or consumer products.

Who owns All Perspectives Ltd?
All Perspectives Ltd is owned by two main shareholders: Sir Paul Marshall, the billionaire hedge fund manager and co-founder of Marshall Wace, and Legatum Ventures Limited, a Dubai-based investment firm associated with the Legatum Group. Legatum Ventures holds a 37.8% stake. Persons with significant control on file include Christopher Lincoln Chandler, Sir Paul Marshall, Richard Edward, and Philip Vassiliou. The company is privately held and not publicly traded.

What is All Perspectives Ltd's revenue?
In FY2025 (year ended May 31, 2025), All Perspectives Ltd reported revenue of GBP 26.2 million, up 58% from GBP 16.6 million in FY2024. Advertising revenue grew 42% to GBP 14.2 million, and digital revenue increased 29% to GBP 7.3 million. Despite revenue growth, the company reported a loss of GBP 22 million in FY2025, with cumulative losses of GBP 131.5 million since launch in 2021.

Is GB News profitable?
No, GB News is not profitable. The channel reported a loss of GBP 22 million in FY2025, down from GBP 32.7 million in FY2024. Cumulative losses since launch in June 2021 have reached GBP 131.5 million. The company remains dependent on funding from its parent company, All Perspectives Ltd, which has invested GBP 141 million cumulatively. A source close to the company said it was moving closer to breaking even, and the company has set a target to become the UK's biggest news channel by 2028.

All Perspectives Ltd was incorporated on September 25, 2019, at Companies House in the United Kingdom. The company was established as a vehicle to launch and operate GB News, a new British news television channel intended to challenge the existing BBC News and Sky News duopoly in UK television news.

The concept for GB News was developed by Andrew Neil, the veteran political broadcaster and former BBC Politics Live presenter, who became the channel's first chairman. Neil recruited Angelos Frangopoulos, a former Sky News Australia executive, as Chief Executive Officer. The channel secured a broadcasting license from Ofcom and began building its studio and production infrastructure in London.

GB News launched on June 13, 2021, with Andrew Neil hosting the inaugural program. The launch was accompanied by significant media attention, as the channel positioned itself as a challenger to the perceived consensus of existing UK news broadcasters. However, Neil's tenure as chairman was short-lived. He stepped down from the presenting role in September 2021, citing disagreements with the channel's direction, and resigned as chairman in 2022.

The channel faced significant challenges in its early years. Advertisers initially hesitated to associate with the channel due to concerns about its editorial stance, leading to advertising boycotts by several major brands. The channel also faced regulatory scrutiny from Ofcom over its handling of editorial standards, particularly regarding the separation of news and opinion programming.

Despite these challenges, GB News grew its audience steadily. By 2023, the channel was reaching approximately 2 million monthly viewers. In 2024, GB News reported that it had surpassed the BBC News Channel and Sky News on average daily viewers for the first time. By 2025, the channel claimed to have beaten both competitors on average viewership for six consecutive months.

In FY2025, GB News reported significant audience growth. Monthly TV viewers reached 3.7 million, up 18% year over year, according to BARB. Radio listeners reached 547,300, up 5.6% year over year, according to RAJAR. Total social media followers grew 56.4% to 6.1 million. The channel reported 87,700 average viewers between 6am and 2am in December 2025, ahead of BBC News Channel on 74,500 and Sky News on 58,300.

GB News Radio grew its weekly reach by 44% to 672,000 in Q4 2025, according to RAJAR, putting it ahead of Times Radio and Talk radio. The main GB News TV channel reported more than 1 million daily average viewers in 2025.

The company has undergone several changes in corporate structure and leadership. In December 2024, Mark Stoleson ceased to be a person with significant control and resigned as a director. Philip Vassiliou was notified as a new person with significant control. Matthew Linnell was appointed as a director. In January 2026, George Farmer terminated his appointment as a director. In May 2025, Alan James McCormick ceased to be a person with significant control.

All Perspectives has expanded its media interests beyond GB News. Sir Paul Marshall's media empire spans UnHerd, a digital opinion platform, and The Spectator, the British political and cultural magazine. Marshall was also in the running to acquire The Telegraph before withdrawing from the process.

All Perspectives and its subsidiary GB News have faced significant controversy and regulatory scrutiny since launch.

GB News has been the subject of multiple Ofcom investigations regarding editorial standards. The channel has faced scrutiny over the separation of news and opinion programming, particularly regarding programs hosted by sitting politicians. Ofcom rules prohibit politicians acting as news presenters, and the channel has been investigated for potential breaches of these rules. In FY2025, Ofcom was due GBP 100,000 in regulatory fines from GB News.

The channel has faced advertising boycotts from major brands concerned about its editorial stance. Several advertisers withdrew from the channel in its early years, citing concerns about controversial programming. However, advertising revenue has grown significantly in recent years, reaching GBP 14.2 million in FY2025, suggesting that advertiser concerns have diminished as the channel has established itself.

GB News has been criticized by media watchdogs and political commentators for its editorial stance, which critics characterize as right-wing or populist. The channel's presentation style, which blends news with opinion and talk programming, has drawn both praise from viewers who feel underserved by existing broadcasters and criticism from those who argue that the channel blurs the line between news and opinion.

Andrew Neil, the channel's first chairman, publicly criticized the channel's direction after his departure, stating that it had deviated from the original vision of a mainstream news channel with diverse perspectives. Neil resigned as chairman in 2022 and has since made critical comments about the channel's editorial approach.

The channel's employment of sitting politicians as presenters, including Nigel Farage (Reform UK) and Jacob Rees-Mogg (Conservative Party), has drawn particular scrutiny. Ofcom has investigated whether these arrangements comply with broadcasting rules regarding political impartiality. The channel has defended the arrangements by arguing that the politicians appear in opinion and talk formats rather than news presentation roles.

The company's financial sustainability has also been a subject of scrutiny. With cumulative losses of GBP 131.5 million since launch, GB News remains dependent on the continued financial support of Sir Paul Marshall and Legatum Ventures. The company has stated that directors have "a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future," but the ongoing losses raise questions about the long-term business model.