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 (@NEWSMAX) April 24, 2023
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.
The Tucker Carlson Effect: FOX News Stock Sinks After Company Drops Tucker Carlson https://t.co/3Cf6Qv7Nat
— The Gateway Pundit (@gatewaypundit) April 24, 2023
Fox News Sees Stock CRASH After Tucker Carlson Departurehttps://t.co/nGDgeZudOk
— Dinesh D'Souza (@DineshDSouza) April 24, 2023
Ironically, FoxNews lost more value firing Tucker than they lost in their lawsuit against Dominion. Who the hell is running that place?https://t.co/4k04X5Zrey
— Bill Mitchell (@mitchellvii) April 24, 2023
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.
Fox stock is crashing as news of Tucker Carlson leaving the network spreads. pic.twitter.com/w23odbFIV8
— Paul A. Szypula 🇺🇸 (@Bubblebathgirl) April 24, 2023
— Laura Loomer (@LauraLoomer) April 24, 2023
I can now say with great pride,
I will NEVER need to tune into Fox News again!
I’m glad Tuckers not chained to Fox’s shackles any longer.
He can do and say whatever the hell he wants.
The truth should never have limitations!
Now watch their stock plummet and his name trend.
— Establishment Eradicator (@wheresourLOGIC) April 24, 2023
Already @FoxNews has lost $1 Bil. in stock since firing Tucker Carlson.
– Go Left, Go Broke
— gary (@gary37h) April 24, 2023