https://www.cbsnews.com/news/fox-stock-down-tucker-carlson-top-ratings-draw/?int...Fox loses $500 million in value after announcing Tucker Carlson is leaving
By Aimee Picchi
Updated on: April 25, 2023
Fox Corporation's worth as a public company has sunk more than $500 million after the media company on Monday announced that it is parting ways with star host Tucker Carlson, raising questions about the future of Fox News and the future of the conservative network's prime time lineup.
Carlson, whose last show was on Friday, April 21, is leaving Fox News even as he remains a top-rated host for the network, drawing 334,000 viewers in the coveted 25- to 54-year-old demographic in the 8 p.m. slot for the week ended April 20, according to AdWeek. That was more than twice the audience of his competitors at CNN and MSNBC in the same hour, and also represented a bigger audience than other Fox News hosts such as Sean Hannity or Laura Ingraham.
Shares of Fox dropped 17 cents, or 0.6%, on Tuesday to $29.74. Since the close of trading on Friday, the stock has declined 3.5%.
Carlson's abrupt departure comes less than a week after Fox reached a $787.5 million settlement with Dominion Voting Systems, which had sued the company in a $1.6 billion defamation case over the network's coverage of the 2020 presidential election.