Piers Morgan, the broadcaster and journalist, is raising tens of millions of dollars of funding from heavyweight investors as he seeks to turn Uncensored, his YouTube-based venture, into a broad-based global media business.

Sky News can exclusively reveal that Mr Morgan is in the process of finalising a roughly $30m (£22.5m) fundraising for Uncensored that will give it a pre-money valuation of about $130m (£97m).

The new investors are understood to include The Raine Group, the New York-based merchant bank, and Theo Kyriakou, the media mogul behind Greece's Antenna Group, owner of a stake in London-based digital venture The News Movement.

Michael Kassan, a marketing veteran, is understood to be advising the business on advertising-related matters and may also invest in a personal capacit

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