Fox Company loses $1 billion in inventory worth after Tucker Carlson exit

Fox Company took a serious monetary stumble on Monday’s sudden announcement that Fox Information and primetime host Tucker Carlson had “parted methods.”

The dad or mum firm of Fox Information, which additionally owns branded leisure and sports activities entities, noticed its inventory drop greater than 5% in worth within the minutes after the surprising announcement.

In keeping with the Washington Examiner, that decline in inventory worth is price greater than $1 billion.

Mr. Carlson had been the community’s hottest particular person host — solely “The 5” bested “Tucker Carlson Tonight” within the scores final yr and generally Mr. Carlson’s 8 p.m. present would edge out the 5 p.m. panel program.

There had been no public inkling in current days that Mr. Carlson would quickly be leaving Fox Information, and neither the community nor Mr. Carlson had specified the explanation for his or her parting by late Monday afternoon.

The departure comes within the quick wake of Fox Information paying practically $800 million to settle a defamation swimsuit by Dominion Voting Programs for claims made by Mr. Carlson and others about voter fraud within the 2020 presidential election.