On Monday, Fox Corporation suffered a market value loss of $962 million after announcing the departure of Tucker Carlson, one of their most-watched news show hosts. The announcement came just a week after the company settled a defamation lawsuit with Dominion Voting Systems for $788 million, due to the network's spread of misinformation about the 2020 Presidential election and unfounded claims of election fraud.
Despite Fox Corporation's Class A shares recovering slightly and trading at $32.65, the split with Carlson has left the company and its investors facing uncertainty. Carlson consistently had one of the most-watched news shows on cable TV, making his departure a significant loss for the network.
In a statement, Fox News confirmed that they had agreed to part ways with Carlson, thanking him for his service to the network as a host and previous contributor. The company plans to fill the 8pm hour with a rotation of Fox News personalities until a new host is named.
As a centrist journalist, it is important to present the facts surrounding this news story without bias or opinion. While the departure of Carlson is a significant event for Fox Corporation, it remains to be seen how much of an impact it will have on the network's future. Investors will be watching closely to see how the company responds to this latest setback, and how they plan to move forward in a post-Carlson era.