Fox News’ stock price dropped following its announcement that it was parting ways with Daily Caller co-founder Tucker Carlson.
“Fox News Media and Tucker Carlson have agreed to part ways,” Fox said in a Monday statement. “We thank him for his service to the network as a host and prior to that as a contributor.”
— Sara Fischer (@sarafischer) April 24, 2023
The announcement came at approximately 11:30 a.m., which coincides with the Fox Corp. CL A tumble to its lowest point of the day at $31.85. The stock eventually crawled back up, hovering about $32 for the remainder of the day.
Fox Corp. CL A stock was down 2.91% at the market close.
Fox Corp. Cl B, whose share owners can vote on the makeup of the company’s board of directors, hit $29.91, down 2.95% by closing bell.
Appears Fox stock is crashing after announcing Tucker Carlson’s show is over: pic.twitter.com/4V1M3ww7r6
— Henry Rodgers (@henryrodgersdc) April 24, 2023
Fox News said it will “air live at 8 PM/ET starting this evening as an interim show helmed by rotating Fox News personalities until a new host is named.” It is unclear what led to the departure. (RELATED: ‘Stunned’ Bongino Abruptly Stops His Show As Tucker Carlson Departure News Breaks)
The news comes just days after Fox parted ways with Dan Bongino. Bongino said he and the outlet could not come to agreement on extending his contract.