Piers Morgan’s Uncensored has been valued at $145 million (around £108 million) by investors, just 18 months after the broadcaster took full ownership of the brand, and five years after ITV parted ways with him over his refusal to apologize for comments about Meghan Markle.
Morgan confirmed this figure in an interview with Karl Stefanovic on Australia’s Today program, days after closing a $27 million funding round for the business. The promotion was led by Raine and Greek media group Antenna, with strategic backers including Elizabeth Murdoch and the Reuben brothers, Simon and David.
“We announced yesterday that we are closing the investor round for Uncensored,” Morgan said. “The investors valued the business at $145 million US.”
The rating marks a dramatic turnaround for the presenter who left Good Morning Britain in March 2021 and left ITV shortly after, refusing to apologize for his comments about the Duchess of Sussex. Compared to his reported ITV salary of £1.1 million a year, the price tag is a hundredth of his old pay packet.
From a one-man show to a media network
Morgan bought the Uncensored brand outright from Rupert Murdoch’s News UK in early 2025, leaving linear television to create a YouTube-first model. “I’ve only had it for a year and a half,” he told Stefanovic. “We have a business worth about $150 million in 18 months.”
The channel now has about 4.4 million subscribers and, according to Morgan, “generates a lot of money from advertising and sponsorship”, all without a marketing budget. “We don’t pay anyone to market our content. We do everything ourselves,” he said.
Most important to the investors, Morgan was determined to build a business that could outlive its founder’s screen presence. “I knew I had to build a business that would end up not being too dependent on me. So I decided to take Uncensored as a business brand,” he said.
That strategy is already being reflected in the company’s growing stable. Uncensored has established partnerships with Paramount UK and Channel 5 to bring its shows to broadcast television, as well as a long-form interview series with Time Studios. Its new stand-up song, World Cup Uncharted, was a huge hit.
“We just did World Cup Uncensored, and that blew up,” Morgan said. “We’re doing bigger numbers than Gary Lineker’s show, which Netflix paid £14m for,” referring to Rest Is Football, which the broadcaster is reportedly paying around £14m to run every day of the tournament.
The economy of travel
This round confirms the lead that was first reported in December, when Business Matters revealed that Uncensored was closing a valuation of £ 100 million with the support of Raine. At the time, insiders said the ambition was to build a multibillion-dollar company in a few years.
Throughout the show, the basic lesson is one that any business owner will recognize: property ownership, not income from the employer, is where value is gathered. Morgan spent decades as a highly paid talent in other people’s businesses. It took just 18 months of being his for his fit to eclipse all that came before, a pattern that is now pulling television’s biggest names off YouTube and away from the traditional broadcasters that once used them.
“I think the sky’s the limit for this thing,” Morgan said. On the evidence of the past 18 months, few investors would bet against him.
