The news that Fox News and former host Tucker Carlson are parting ways hit hard on Monday. After the announcement was made, the chattering class has been a-chattering, with many on the right criticizing the network.
But the company has already seen the financial ramifications of its decision. Breitbart News reported:
Shares of Fox Corporation fell sharply after the company announced it was parting ways with popular conservative host Tucker Carlson.
Shares were down by as much as 5.1 percent after the news broke. They have since recovered some of that ground.
The company said Carlson’s last program at the network was broadcast on Friday night. “Fox News Tonight 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,” Fox said.
Prior to the announcement, shares of Fox had climbed 0.3 percent Monday morning.
Bloomberg reported that Carlson’s departure from the network is wiping out $690 million in value to the company. This is a significant loss.
All indications suggest that this might just be the beginning of Fox News’ woes related to Carlson’s departure. This decision will likely cause even more headaches for the beleaguered network, which just concluded a rather expensive lawsuit from Dominion Voting Systems.
The departure of Tucker Carlson from Fox News marks a significant change for the network, as he was one of its most popular and influential hosts. With an average of over three million viewers per night, Carlson commanded a large audience and played a key role in shaping Fox News’ conservative narrative. His absence is likely to have serious implications for the network.
The network may see a huge decline in viewership without Carlson’s strong presence. As the network’s top-rated prime-time host, Carlson had a dedicated following of viewers who tuned in to hear his controversial and provocative perspectives on current events. His departure could easily lead to some of his loyal viewership seeking out alternative conservative voices on other networks or platforms.
Secondly, Fox News may face challenges in filling the void left by Carlson. To put it simply, it will be nearly impossible to replace him with a personality that could match his contributions to the network. As a prominent figure in conservative media, Carlson had a unique style and approach that resonated with his audience. The interim show, “Fox News Tonight,” helmed by rotating personalities, may struggle to establish a consistent following and maintain the same level of influence that Carlson had.
Furthermore, Carlson’s departure may have implications for Fox News’ editorial direction. Carlson often stirred up controversy with his opinions and commentary. His departure may signal a shift in the network’s editorial stance or tone, as his absence may leave a void in the type of content and perspectives presented on Fox News.
The company’s leadership could not have made this decision lightly. Separating from its biggest attraction is going to cause no small amount of pain for Fox News. It also raises a question: What was the motivation behind this move?