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Fox News Stock Tanks, Losing $1 Billion in Value After Tucker Carlson Departure

Fox Corporation’s stock experienced a sharp decline on Monday, dropping as much as 5 percent and resulting in a loss of nearly a billion dollars in market value. The decline followed the announcement that Fox News had severed ties with primetime host Tucker Carlson.

According to Business Insider, although the company’s shares showed a slight recovery later in the day, trading at $29.61 and down almost 4 percent by 12:15 pm Eastern Time, they finished at $29.91 by the close of the market.

The decision to part ways with Carlson came less than a week after Fox Corporation and Dominion Voting Systems had reached a $787 million settlement, following the revelation of private text messages from Fox hosts, including Carlson, criticizing Fox News management. As one of the network’s most popular hosts, known for consistently high ratings on his cable news show, Carlson’s departure has caused shock and surprise among viewers and industry observers.

Former President Donald Trump, who had frequently appeared on Carlson’s show, expressed his shock and disappointment at the news during an interview with Greg Kelly on Newsmax, stating that Carlson was a “very good person” and “very talented.” Trump also posted on Truth Social, a social media platform he had recently launched, lamenting Carlson’s departure as a “big blow to cable news and to America,” describing him as “insightful, interesting, and ratings gold.”

Fox News has not provided any explanation for the sudden departure of Carlson, and the network was still airing promotional segments for his show on Monday morning after the announcement was made. However, it was revealed that the decision to remove Carlson from Fox News’ lineup came directly from Rupert Murdoch, Chairman of Fox Corp., further adding to the intrigue surrounding the unexpected departure of the top-rated host.

Tucker Carlson’s departure led to a flood of supportive and encouraging messages on Twitter.

There was even talk of Tucker… running for president?

Tucker Carlson 2024? Don’t count anything out in this wild election cycle.

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OPINION: This article contains commentary which reflects the author's opinion.