Piers Morgan is on the verge of raising approximately $30 million in funding for his YouTube venture, Uncensored, which is set to be valued at about $130 million. This ambitious move comes as Morgan aspires to expand the platform into a comprehensive global media business.
This funding round has drawn significant attention from heavyweight investors, underscoring a shift towards independent media channels in a rapidly changing news landscape. Morgan’s efforts to bolster Uncensored could also signal a new era where individual journalists and presenters can wield substantial influence over media narratives.
Key Developments
- Piers Morgan is finalizing a $30 million fundraising round for Uncensored.
- The venture aims for a pre-money valuation of $130 million.
- Investors include The Raine Group and media mogul Theo Kyriakou.
- Notable banker Joe Ravitch is set to join Uncensored’s board.
- Plans include broader digital content offerings in areas like history, sports, and technology.
Full Report
Expansion Plans for Uncensored
Piers Morgan is advancing plans to transform Uncensored into a diverse digital media group. His initiative will likely feature a combination of focused channels on topics like sports, history, and technology. The push for expansion follows the significant viewer engagement garnered from high-profile interviews, including notable figures such as Cristiano Ronaldo and Novak Djokovic, which have collectively attracted hundreds of millions of views across social media platforms.
Investor Involvement
The funding round has already attracted the attention of prominent investors including The Raine Group and media executive Theo Kyriakou, who is known for his role in Greece’s Antenna Group. Additionally, veteran banker Joe Ravitch, a co-founder of Raine, is expected to take a place on the Uncensored board as part of the investment agreement. These strategic moves aim to enhance Uncensored’s market standing and operational capabilities.
Financial Outlook
Insiders suggest that the fundraising round could position Morgan’s economic interest at a substantial value, likely amounting to tens of millions. According to a source close to the negotiations, the ambition is to escalate Uncensored into a billion-dollar enterprise within a few years. Such aspirations reflect the growing commercial opportunities accessible through digital media channels.
Unique Position in Media Landscape
As traditional media outlets grapple with inflated costs and operational challenges, Morgan’s independent approach is noteworthy. His strategy to build Uncensored as a standalone operation allows for flexibility and innovation, particularly in covering controversial stories that can attract international audiences. Morgan’s previous dealings with Rupert Murdoch’s companies, including a four-year revenue-sharing agreement with News UK, may also bolster this new venture’s credibility and reach.
Context & Previous Events
In January 2022, Piers Morgan had rejoined Rupert Murdoch’s media empire under a three-year contract, which involved writing for several publications and hosting shows on Talk TV, a company that has since been dissolved. Earlier this year, he negotiated a separation from News UK, aiming to concentrate on Uncensored’s growth and development, signalizing his commitment to fostering a unique journalistic platform.
