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GB News has been billed as the UK's biggest broadcast venture in decades and is reportedly set to launch within the next couple of weeks.
Its chairman, Scottish journalist and broadcast veteran Andrew Neil, is the channel's chairman and the 72-year-old has snapped up a host of famous faces to join the presenting team.
The channel plans to air 6,500 hours a year of "original news, opinion and debate", eschewing rolling news for appointment-to-view programming.
Some details are still being kept under wraps, but here's everything we know so far.
GB News has been described as the biggest TV channel to launch in the UK since Sky News was first established three decades ago.
With financial backing from Discovery, GB News plans to broadcast individual programmes and news-based programmes built around its presenting team, instead of being a rolling news channel.
Its broadcasts will instead be a mix of news coverage, debate and opinion.
Some have criticised the channel, prior to its launch, for being too 'right-leaning' when it comes to its political stance and reports claim that GB News will take on a similar style to Fox News over in the US.
GB News, however, has promised to deliver "impartial journalism", with the channel's director John McAndrew - who has previously worked for BBC, Sky News, NBC and ITN - tweeting that GB News will be "free, fair and impartial" as well as "Ofcom regulated".
In the UK, TV watchdog Ofcom requires that news coverage by channels remains impartial when covering political content.
GB News - which will be a 24-hours news network - will launch at the end of May, according to numerous reports.
The Telegraph cites Thursday, May 27 as the date showreels of its star presenters will air on the channel - with original programming starting on May 31.
It was previously believed the launch would happen in March.
Currently, the channel's west London studio is still under construction, with rehearsals continuing - as their social media pages show.
We also know what the channel number will be for Freeview: 236.
Channel numbers for Sky and Virgin Media will be announced in due course.
A whole host of presenters have already been confirmed to join the channel when it launches, with GB News chairman Andrew Neil set to host a primetime evening programme.
Former Sky Sports star Kirsty Gallacher is one of the presenters joining their breakfast show.
She was confirmed to be joining GB News as a programme presenter in March, later saying: "The channel has an amazing energy and excitement and there's a real spirit of innovation there."
Ex-Labour politician Gloria de Piero is also set to join, hosting an afternoon show.
Colin Brazier, who worked for Sky News, will anchor GB News' daytime news, interview and debate programme and he has said he's "delighted and thrilled" to be joining the team.
Former winner of The Apprentice, Michelle Dewberry, is joining the GB News team to host an evening primetime show on weeknights.
Simon McCoy is another big addition, having announced he was joining the new channel earlier in March, on the same day he confirmed he was leaving BBC News after nearly 18 years.
Dan Wootton, formerly of The Sun, will host a daily show on GB News, five days a week.
Journalist Inaya Folarin Iman is joining the morning presenting team, while The Telegraph's Alex Phillips will co-host a weekday afternoon programme.
Tom Harwood will be GB News' political correspondent and the channel's political editor will be Darren McCaffrey - who is the political editor of Euronews.
Though as of Monday, 24 May, nothing has been confirmed about whether the former GMB star will make the move.
Piers left GMB in March following an on-air clash with Alex Beresford - after facing backlash for stating he "doesn't believe" comments Meghan Markle made in her interview with Oprah Winfrey, regarding her mental health and claims she experienced racism within the palace.
While fans seem pretty confident on Twitter that Piers will be heading to GB News, the outspoken presenter has remained tight-lipped on his next steps.
Instead, he teased that he will be back and called his exit from GMB a "temporary hibernation".
Piers told reporters outside his house: "I think it's fair to say, although the woke crowd will think that they've cancelled me, I think they will be rather disappointed when I re-emerge."
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