The departure of Tucker Carlson, the most popular prime-time host on Fox News who regularly pulled in an average in excess of 3 million viewers a night, led to a significant drop in the company’s share price on Monday.
Carlson’s firing wiped off $500 million from the company’s market value, and stock slid 4 percent within seconds of the announcement of his departure.
By midday on Monday afternoon, shares of Fox Corporation fell roughly 5.4 percent falling from $34 per share to under $32, although the company’s stock rebounded somewhat to a fall of 2.9 percent before the end of trading.
Carlson’s show, Tucker Carlson Tonight, was the gleaming jewel of Fox’s nightly line-up but a series of recent controversies including the Dominion defamation claims and his own comments about the January 6 riots led him into hotter water than even he was used to.
It’s unclear how long he had left on his contract, or whether Fox will pay severance.
Should have Kept Him for Telling the TRUTH & Sued Dominion for 500 Million $$$$$$$$