Fox News Loses Nearly A Billion Dollars In Market Cap After Tucker Carlson Departure

On Monday, it was announced that Tucker Carlson will be leaving Fox News with the host’s final show being last Friday, April 21st. 

“Fox News Media and Tucker Carlson have agreed to part ways,” the network said in a statement, according to Forbes.

“We thank him for his service to the network as a host and prior to that as a contributor,” Fox continued in its statement. “Mr. Carlson’s last program was Friday, April 21st. Fox News Tonight will air live at 8 PM/ET starting this evening as an interim show helmed by rotating FOX News personalities until a new host is named.”

Following the announcement, Fox News’s stock plummeted, losing nearly a billion dollars as of this report.

According to Business Insider, Fox Corporation’s stock fell as much as five percent leading to $962 million in market value.

NEW DETAILS REVEAL WHY TUCKER CARLSON WAS PUSHED OUT BY FOX NEWS

Over the past month, the cable news network’s stock, Fox Corp Class A, hovered around $34 a share. Following the announcement, however, the stock plummeted to, as of this report, $32 a share.

In addition, Fox Corp Class B, hovered around $31 a share before falling to $29 a share in the mid-morning trading hours.

The loss of nearly a billion dollars in market cap dwarfs the recent $787 million settlement with Dominion Voting Systems that took place last week. Carlson’s ouster could lead to the end of the network as they face continued financial issues.

Tucker Carlson was the most viewed cable news host in the history of television and his ouster from Fox has already proven to be a terrible decision for the network.

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