On Monday morning FOX News announced that they were parting ways with Tucker Carlson, the top-rated cable news host on television today.
Following the news FOX Corp stock took a nosedive.
FOX NEWS STOCK IS DROPPING AFTER LOSING TUCKER. #TuckerCarlson pic.twitter.com/l9hSHYPMrA
— Val (@TrumpsHurricane) April 24, 2023
FOX Corp stock did not recover from the nearly 3% decline.
FOX Corp stock suffered a billion dollar loss following the news.
The Washington Times reported:
Fox Corporation took a major financial hit upon Monday’s sudden announcement that Fox News and primetime host Tucker Carlson had “parted ways.”
The parent company of Fox News, which also owns branded entertainment and sports entities, saw its stock drop more than 5% in value in the minutes after the unexpected announcement.
According to the Washington Examiner, that decline in stock value is worth more than $1 billion.