Fox Corporation’s stock took a massive hit after news broke that the top host in all of cable news, Tucker Carlson, was leaving the network. The Rupert Murdoch-controlled company, where Paul Ryan has a board seat, lost $1 billion in market capitalization when its stock price dropped more than 5% minutes after the separation hit the news.
The stock price has slightly increased and is down around 4% since the announcement. This comes as Fox News is negotiating its carriage fees with Comcast and others. Carriage fees are a huge source of Fox’s profit.
Fox News recently bragged that in the first quarter of 2023, Tucker Carlson’s show was the “highest-rated program in cable news in the younger 25-54 demo, averaging 3.2 million viewers, 443,000 in the demo and 299,000 in the 18-49 category.”
“FOX News Media and Tucker Carlson have agreed to part ways. We thank him for his service to the network as a host and prior to that as a contributor,” the network said in a statement.
Carlson’s last show was Friday. Fox will air a new program called “Fox News Tonight” at 8 p.m. starting Monday evening.
This will be an interim show hosted by different Fox News personalities.
And CNN sent Don Lemon packing hours after Fox and Tucker parted ways. And Lemon was furious. He said:
“I was informed this morning by my agent that I have been terminated by CNN. I am stunned. After 17 years at CNN I would’ve thought that someone in management would’ve had the decency to tell me directly.
“At no time was I ever given any indication that I would not be able to continue to do the work that I have loved at the network.
“It is clear that there are some larger issues at play. With that said, I want to thank my colleagues in the many teams I’ve worked with for incredible run.
— Don Lemon (@donlemon) April 24, 2023
“They are the most talented journalists in the business, and I wish them the best.”
Again per news flashes from @ChrisPlanteShow , immediately following the release that extremely popular Tucker Carlson is leaving Fox News, Fox Corp stock price plummets.📉📉 pic.twitter.com/qxtucA2QR5
— Mary Shaw (@MaryInIllinois) April 24, 2023
