It didn’t take long for the news about Tucker Carlson’s departure to cause damage to the standing of Fox News. Within minutes, they were suffering major losses.
Fox Corporation, which is the mother company of several news channels and entertainment TV, had its stock plummet by at least 5% immediately after the news was made public.
Tucker was worth way more than a billion dollars
Despite this, the news network claimed they parted ways with Tucker, even though it’s already known he’s been fired.
The sudden evaporation of stock just goes to show how valuable Tucker was to the network; yet, they let him go without a second thought.
Appears Fox stock is crashing after announcing Tucker Carlson’s show is over: pic.twitter.com/4V1M3ww7r6
— Henry Rodgers (@henryrodgersdc) April 24, 2023
His show was the highest-rated television programming ever since cable became a thing, averaging 3.2 million viewers with ease.
On top of this, Carlson was the network’s most recognizable host, with his show being the second most popular segment, trailing behind only The Five, which had more viewers on average.
There’s more happening behind the curtains
Tucker’s abrupt departure was caused by a number of factors, including his adamant claims about the January 6th riots.
Whoa – BlackRock increased its stock ownership of Fox Corporation to over *15%* in February
Now do you see why Fox parted ways with Tucker only 2 months later?
Always follow the money https://t.co/xBMgpcaLnY
— DC_Draino (@DC_Draino) April 24, 2023
The news host spent months convincing the American people they’re being lied to and the entire attack was orchestrated by federal agents, only to be shut down by the very network that hired him.
Unfortunately, this cost Fox more than $787M in defamation lawsuits with Dominion Voting Systems.
However, Tucker isn’t the only one who won’t be continuing his career with Fox News. Dan Bongino also announced he won’t be extending his contract with the network.
Donald Trump on Tucker Carlson: pic.twitter.com/AjAHNYjZxy
— ALX 🇺🇸 (@alx) April 25, 2023
While it was originally unknown why Tucker abandoned Fox, it’s likely due to a number of workplace harassment lawsuits filed against him by a former producer on his show.
That being said, Tucker has been a pleasant host for years on end. The content he provided for the network will be difficult to find a replacement for, especially considering his departure lost Fox News well over $1B in just a single day.
This article appeared in The Record Daily and has been published here with permission.
