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Tuesday, April 25, 2023

Fox Stock Dropped When Word About Carlson Got Out


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.

The Daily Mail reports 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. 

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