Brown Rudnick Advises GB News on the Fundraising and Launch of the UK’s First Major TV News Channel in Over 20 Years
PUBLISHED ON: 01/11/2021
LONDON, 11 January 2021 –International law firm Brown Rudnick advised the founders of Britain’s newest 24-hour TV news channel, GB News, on its all-equity fundraising.
Leading global telecommunications executives Andrew Cole and Mark Schneider, founders of GB News and its holding company, All Perspectives Ltd, chose Brown Rudnick to lead negotiations for the creation, structuring, and financing of All Perspectives Ltd and GB News.
Major investors in the venture include the US entertainment giant Discovery Inc., Legatum and Sir Paul Marshall.
The channel, which aims to bring more plurality to UK media, is chaired by veteran broadcaster Andrew Neil, who will also host a prime-time programme.
GB News’ Chief Executive Officer Angelos Frangopoulos said: “We needed advisors who were faultless in the structuring and negotiation of complex startup ventures of this nature. We knew we could rely on Brown Rudnick to deliver, which they absolutely did.”
Neil Foster, Partner at Brown Rudnick and Global Chair of Technology, said: “GB News will be a significant player in the media landscape and we are delighted to have been working with the outstanding All Perspectives team over the last year, from design to execution.”