Fox News BLEEDING: $500M Drop in Market Cap, $77M Advertising Revenue in Jeopardy

On Monday, in a truly shocking move, Tucker Carlson was fired from Fox News—or as the official statement claims: Tucker Carlson and Fox News have “agreed to part ways.”

This is indeed a shocking development because Tucker’s show was far and above the most popular program on Fox.

And actually, it was one of the most popular news programs on cable TV.

Furthermore, financially this is going to hurt Fox News quite a bit. Not only did Tucker’s show bring in $77 million in advertising per year, but also, right after his departure was announced, Fox’s share price tanked. Within a matter of hours, they lost close to a billion dollars worth of market cap. Eventually, it bounced back a little bit, but as of this episode, it’s still down by about half a billion dollars.

Regardless, the big $900 million question that’s still hanging in the air is: why? Why exactly did Tucker Carlson get fired? And why was it done so abruptly?

Watch the video: