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Fox News Stock Tanks Following Tucker Carlson Exit

Fox News is taking a serious hit following the release of Tucker Carlson.

The Fox Corporation stock (FOX) dropped by 5% partway through Monday.

Only minutes after news of Tucker’s release went public, Fox lost $1 billion in market capitalization.

Tucker was seemingly the driving force in Fox News’ popularity.

Many believe that the network will have a hard time recovering from this anytime soon.

Newsmax has the details:

Fox Corporation stock (FOX) fell 5% midday Monday on the news that host Tucker Carlson was leaving the network — erasing $930 million in market value, Business Insider reports.

The last program of “Tucker Carlson Tonight” aired Friday, Fox said in a press release.

Shares of the media company reversed their downward trajectory by 2:04 p.m. to a 2.73% decline, trading at $29.98.

According to the Washington Examiner, FOX lost $1 billion in market capital immediately following the announcement of Carlson’s departure:

Fox Corporation’s stock lost $1 billion in market capitalization just minutes after news broke that Tucker Carlson departed Fox News.

As the Examiner points out, Tucker was the main attraction at Fox News:

The massive evaporation of value speaks to just how much traffic the 53-year-old host of Tucker Carlson Tonight drove for the network. Fox News recently announced that in the first quarter of 2023, the show was the “highest-rated program in cable news in the younger 25-54 demo, averaging 3.2 million viewers, 443,000 in the demo and 299,000 in the 18-49 category.”

This could very well be the final nail in the coffin for Fox News.


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