I think it'll be here to stay.
You have to understand the business model. This isn't about attracting millions of viewers or making huge profits - it's being funded by various rich foreign people to create a feedback loop of news/opinions so that they can take an unrepresentative tweet, report it on their television station as reflecting some "silent majority", that then allows the Mail/ Telegraph to report it as being a significant opinion (because a television channel has been discussing it), which then allows Tory MPs to raise these "legitimate concerns" in parliament... and so it goes, round and round... just like the way that various "Astroturf" organisations (Taypayers Alliance etc) get views parroted by the Tory press
Funding a TV channel is quite a cheap way of getting your views discussed in parliament as somehow representative of what ordinary people are thinking.
They'll have some fun with some crowd pleasing "woke" stuff (and I despair when I see the easy ammunition that some of the left give to the likes of Titania McGrath, who seems able to ridicule them without ever needing to get out of second gear)
Whilst I am left of centre (or was, before the left started getting extra-weird), I do enjoy some voices on the right - Geoff Norcott's podcast is always worth a listen - but I couldn't do a whole channel of it. And, whilst the initial claims are that it'll be an unbiased channel, it's noteworthy that the reaction to the likes of IKEA boycotting it are along the lines of "oh, so you don't want to appeal to pro-Brexit voters". Mind you, I'm uneasy at the way that people (nominally) on the left start these campaigns/ boycotts, but that's another story!
A big chunk of the money came from John Malone, via Discovery.
However, Discovery is merging with WarnerMedia, which is being spun off from AT&T, & AT&T shareholders will end up with 71% of the enlarged company.
Neither Discovery or Warner do news, so whether they would invest any more into it...
Another investor is Paul Marshall, a hedge fund manager. Maybe he'll want GBNews to give his son a job, now that he's left Mumford & Sons...
Legatum. Well where does that money come from?
Their budget is £60 million compared to BBC news budget of £44 million
They raised £60m, to start a new channel from scratch. Quite different to an ongoing budget of £44m.
From that they've had to equip studios, pay for broadcast carriage on all the platforms, possibly/probably front-load staff contracts, etc etc. £m's.
The carriage & play-out costs are ongoing, so quite a high cash burn rate.
I suspect the investors have been majorly oversold on the potential audience figures & financials.
The profitable part of the Daily Mail is MailOnline, largely celeb/lifestyle/soft news that does well in the US.
The Telegraph no longer have audited circulation figures, their financials are appalling, & they've been up for sale for nearly 2 years.
Wonder if some of the big names involved got spooked by reports that Murdoch was looking at a Fox News UK & they weren't going to be part of it.
Sky News is 30 years old, & has the Sky subscription revenues to support it. Wouldn't be surprised if it's a useful promo outlet for Sky Sports as well. (have to remember that in the early days, Sky needed to get people to switch over from BBC/ITN, just to get people used to having more channels)
Fox News is 24 years old, & uses/used the pre-existing Fox network brand. (Fox had been the fourth US network for a decade by then)