The $1B dollar man: Fox stock takes huge hit after Carlson exit

Hold onto your hats, folks! The news just broke that Tucker Carlson has departed Fox News, and the stock market is already feeling the impact. In fact, Fox Corporation’s stock lost a whopping $1 billion in market capitalization just minutes after the announcement.

It’s no secret that Carlson was a major player at Fox News, and his departure has left shareholders reeling. The media organization and Carlson have “parted ways,” leaving many wondering what the future holds for both parties.

But here’s the kicker: Carlson’s departure speaks volumes about just how much traffic he drove for the network. In fact, his show, Tucker Carlson Tonight, was the highest-rated program in cable news in the younger 25-54 demo, averaging 3.2 million viewers, 443,000 in the demo, and 299,000 in the 18-49 category. That’s a lot of eyeballs!

So what’s next for Fox News? Only time will tell. But one thing’s for sure: Carlson was perhaps Fox News’s single most-recognized anchor, and his show was the network’s second-most popular program last year, with only The Five attracting more viewership.

It’s worth noting that Fox News recently settled a defamation suit with Dominion Voting Systems for more than $787 million over false claims about voter fraud in the 2020 presidential election. And last week, another popular figure at Fox, Dan Bongino, announced he and Fox failed to come to an agreement for a contract extension.

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As for Carlson, the reason for his departure is still unclear, and he has yet to release a statement. But one thing’s for sure: his absence will be felt at Fox News for a long time to come.