Fox Corporation, the parent company of Fox News, recently announced the departure of Tucker Carlson from his show, “Tucker Carlson Tonight.” The announcement came as a shock to many, and within minutes of the news breaking, Fox Corporation’s stock had lost over $1 billion in market capitalization. This significant loss speaks to just how much Carlson’s show drove traffic for the network.
Carlson was Fox News’s second-most popular program last year, with only “The Five” attracting more viewership. Additionally, Carlson’s show was the highest-rated program in cable news for the younger 25-54 demographic, with an average of 3.2 million viewers. However, despite his popularity, Carlson and Fox News have “parted ways,” leaving many viewers and shareholders alike wondering what the future holds for the network.
The departure of Carlson follows Fox News’s recent settlement of a defamation suit with Dominion Voting Systems for more than $787 million over false claims about voter fraud in the 2020 presidential election. This settlement, coupled with Carlson’s exit, has left many questioning the future direction of the network.
Carlson’s departure has led to many individuals canceling their subscriptions to the Fox Nation streaming service. Some have taken to social media to express their disappointment and frustration, with many using the hashtag #CancelFoxNation to voice their displeasure.
Don’t forget to cancel Fox Nation! pic.twitter.com/sG59Hw7lGa
— COFFEE (@BTexas1969) April 24, 2023
The network has long been a bastion of conservative thought, and its coverage of the 2020 presidential election was controversial, to say the least. However, the recent stock drop shows that the departure of a major figure like Tucker Carlson can have a significant impact on the network’s bottom line. It remains to be seen how Fox News will adapt to the departure of Carlson and the recent defamation suit settlement. Furthermore, Dan Bongino, another popular figure at Fox, recently announced that he and Fox had failed to come to an agreement for a contract extension. Bongino was floored when he found out the news about Tucker Carlson on his live show. Watch below.
The moment live on air Dan Bongino finds out Tucker Carlson is out at Fox News… pic.twitter.com/ttDNDdPTCF
— Matt Couch (@RealMattCouch) April 25, 2023
In conclusion, the departure of Tucker Carlson from Fox News has caused a significant drop in Fox Corporation’s stock price, demonstrating just how much of an impact Carlson had on the network’s viewership. As a conservative blogger, I will be watching closely to see how Fox News responds to this setback and how it will continue to cover the news and politics of the day.
Megyn Kelly slams Fox News for ‘terrible move’ in getting rid of Tucker Carlson and asks why the CEO remains in her job pic.twitter.com/MP2IsAx4M4
— 1776 (@TheWakeninq) April 25, 2023