Home Business Fox Loses $500 Million in Value After Tucker Carlson Exit

Fox Loses $500 Million in Value After Tucker Carlson Exit

Tucker Carlson left Fox News

After the star host, Tucker Carlson, announced that he is parting ways with Fox News, the media company has sunk more than $500 million in value. 

What is the Complete News?

One of the top-rated hosts for Fox News, drawing 334,000 viewers in the 8 pm slot, Tucker Carlson, left the network. His last show was on 21 April, Friday. 

According to the sources, the number of viewers he used to generate was more than twice his competitors at MSNBC and CNN in the same time slot. 

Carlson was also generating more audience than other hosts on Fox News, such as Laura Ingraham and Sean Hannity. But after his announcement of leaving the media company, the shares of Fox dropped from 17 cents, or 0.6%, on Tuesday to $29.74. 

However, the stock has declined 3.5% since the close of trading on Friday. 

Less than a week, it was the second unexpected thing that happened with Fox after the media company reached a $787.5 million settlement with Dominion voting system, suing the company with a $1.6 billion defamation case over the 2020 presidential election’s network coverage. 

Senior securities analyst at Argus Research, Joseph Bonner, stated that the financial impact on Fox might be minimal as advertisers already booked their slots in advance. But there could be an issue if the rating crater, he added. 

However, Fox also made an announcement that they will continue airing Fox News Tonight at 8 pm slot as an interim program until a new host is hired. 

Why Tucker Carlson Left Fox?

Carlson’s comments about Fox management could be one of the reasons behind his leaving the network. It also emerged in Dominion’s case. 

He also became a topic of discussion when documents of scornful text messages from him about former President Donald Trump were revealed.  

Will There be a New Star Host on Fox News?

Before Tucker Carlson, there was a host named O’Reilly who left the show after sexual harassment claims were filed against him. However, O’Reilly’s ratings were far more than Carlson. 

On average, O’Reilly generated around 728,000 viewers in the first quarter of 2017. On the other hand, Carlson has an average viewership of 443,000 during the first three months of his career. 

It was half the O’Reilly audience. Bonner made a statement that commentators may talk about the sky falling of Fox at the loss of a star host, but still, Fox has done excellent at producing new stars over time. 

They need to think about how much it is about the platform and how much it is about the person. 

What’s Next for Tucker Carlson?

Less than a day since Carlson announced that he is leaving Fox News, many organisations began reaching out to onboard him. One of the competitors of Fox News, (OANN) One America New Network, wrote an open invitation on their Twitter handle for Carlson. 

OANN said it may be a Fox News loss, but it could be OANN’s gain. Robert Herring, CEO and founder of OANN showed his excitement for inviting Carlson to meet for negotiation to become a part of the company. 

The founder of the Heritage Foundation, Kevin Roberts, also tweeted that the tank will always be a home for Carlson. However, Carlson had already worked for the organisation earlier in his career. 

Chris Pavllovski, the CEO of Rumble, made a statement on Monday about whether a video-sharing platform is popular enough that Carlson will put his interest in it.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Politics and Hard News will not be Pushed by Threads Like Twitter, Instagram Head Says

Instagram head Adam Mosseri cleared things up and said Threads will not...

Twitter’s Competitor, Threads Sets to Launch on 6 July

6 July is the day when you get bail from Twitter. According...

Amazon Duped Millions of Consumers into Enrolling in Prime Subscription

On Wednesday, Amazon was accused of enrolling millions of consumers into its...

8 Entrepreneurial Trends to Watch in July 2023

Nowadays, it has become a trend; people ditching traditional career paths and...