How did Tucker Carlson’s exit from Fox News affect Fox stock?
Fox News has parted ways with host Tucker Carlson, and his sudden departure was followed by the tanking of the stock of the media outlet’s parent company.
The sudden and unexpected departure of Tucker Carlson from Fox News left tongues wagging -- some suggesting an immediate move into politics -- and it also resulted in Fox stock dropping.
Fox Corporation, the parent company of Fox News, saw its shares closing 3% lower at the end of the trading day after falling by as much as 5%.
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Tucker Carlson: An abrupt goodbye
Fox announced that they were parting ways with Carlson in a brief, four-sentence statement, and did not give any reason for the separation. The company said that the host’s last day on air with them was Friday, April 21. Carlson hosted Tucker Carlson Tonight, the highest-rated primetime cable news program.
The network announced that they will air Fox News Tonight at 8 p.m., the time slot that the host vacated, until they find a replacement for him.
Carlson himself appeared to be unaware that he would be leaving his job, bidding his viewers a happy weekend on what was to be his last day on his show.
The host’s exit from Fox comes after the company reached a $787.5 million settlement with voting machine company Dominion Voting Systems, who had sued them for defamation over results of the 2020 presidential election.
Tucker Carlson: Star in the Dominion lawsuit
Carlson had played a major role in the Dominion case after evidence was presented, including texts betraying his sentiments against former president Donald Trump.
According to the Washington Post, comments by the host about his co-workers at Fox News that were revealed because of the Dominion lawsuit were a factor in his dismissal.
The anchor is also facing allegations from a former employee of creating a toxic, misogynistic work environment.
Carlson so far has not released a statement about his ouster from the network. His exit marks the end of more than a decade with the conservative news giant, where his popularity at primetime was unrivaled.