Saturday, May 11

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

Fox Corporation took a serious monetary stumble on Monday’s sudden announcement that Fox News and primetime host Tucker Carlson had “parted ways.”

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

According to 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 Five” bested “Tucker Carlson Tonight” within the rankings final yr and typically 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 News, 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 rapid wake of Fox News paying almost $800 million to settle a defamation go well with by Dominion Voting Systems for claims made by Mr. Carlson and others about voter fraud within the 2020 presidential election.

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