Fox Corporation has lost nearly a billion dollars in stock value after the network announced on Monday they are parting ways with their top anchor, Tucker Carlson, the host of one of America’s most popular cable news shows, “Tucker Carlson Tonight.”
Within hours of the Carlson departure announcement, Fox Corporation reportedly lost $930 million in market value, according to a report by Business Insider, which reported that “Fox Corporation stock fell as much as 5% on Monday and erased $930 million in market value after it was announced that Fox News Media parted ways with host Tucker Carlson. Shares of the media company recovered slightly and were trading at $29.61, down almost 4% at 12:15 p.m. ET.”
BREAKING: Fox News Corp. has lost $930 MILLION in market value today since news of Tucker Carlson departing broke. https://t.co/ad24F64qa1
— TexasLindsay™ (@TexasLindsay_) April 24, 2023
Fox News’s stunning market loss comes shortly after the network paid more than $700 million as part of an out of court settlement with Dominion Voting Systems, meaning some could say the company has lost nearly $2 billion in two weeks.
The surprise decision has mocked a tsunami of online mockery from Carlson’s supporters.
Carlson’s show, which Babylon Bee jokingly described as “the only reason people watch Fox News,” will be replaced with “Fox News Tonight” and will feature a slew of other Fox News hosts until his replacement is announced.
Fox News Fires The Only Reason People Watch Fox News https://t.co/x8qz6THmy5 pic.twitter.com/YZPbZzOBEI
— The Babylon Bee (@TheBabylonBee) April 24, 2023
“FOX News Media and Tucker Carlson have agreed to part ways. We Thank him for his service to the network as a host and prior to that as a contributor,” the network said in a statement.
“Mr. Carlson’s last program was Friday April 21st. Fox News Tonight will air live at 8 PM/ET starting this evening as an interim show helmed by rotating FOX News personalities until a new host is named,” Fox News Media said.
JUST IN – Tucker Carlson to leave Fox News. pic.twitter.com/YAikVxlrGx
— Disclose.tv (@disclosetv) April 24, 2023
The surprise decision from the Murdoch media centerpiece comes shortly after Fox News ended a lawsuit from Dominion Voting Systems with an out of court settlement that saw the network pay hundreds of millions. While Carlson’s communications were included in the lawsuit’s discovery, it is unclear if the voting machine company’s lawsuit contributed to the decision.
Carlson began his media career in the 1990’s and has had shows on multiple cable television news networks spanning from CNN, PBS, and MSNBC before joining Fox News in 2009.
The host ascended into political stardom in the years leading up to the first episode of “Tucker Carlson Tonight” in November of 2016, which quickly turned into one of the nation’s most popular news broadcasts in American history.
In what some have described as the “Bloody Monday” for American cable news, Carlson’s departure from Fox News coincides with CNN’s firing of far left host Don Lemon.
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