Discovery loses £12m on GB News

Discovery Communications lost £12 million (€13.7m) on its stake in British right-wing news channel GB News. The loss was confirmed in a filing to UK regulatory authorities.

Discovery, now part of Warner Bros Discovery, invested £20 million in the news channel, but exited after 12 months and sold its 25 per cent stake for £8 million.

Source: Discovery loses £12m on GB News