Fox Corp (NASDAQ: FOX) just slid into the red following an announcement that Tucker Carlson – its right-wing primetime host is quitting Fox News immediately.
Is it related to the Dominion lawsuit?
The news arrives only days after the mass media company agreed to pay nearly $800 million to Dominion Voting Systems to settle an election defamation lawsuit.
Fox News Media and Tucker Carlson have agreed to part ways. We thank him for his service to the network as a host and prior to that as a contributor.
Fox Corp did not confirm, though, that the departure of its top-rated host was indeed related to the lawsuit Dominion filed against the cable network in 2021 for false claims that its voting hardware was used to rig the 2020 presidential election.
Year-to-date, Fox shares are still up nearly 5.0% at writing.
Carlson had criticised Fox management
Carlson did not signal any intent to leave Fox News when he signed off on Friday and is yet to make a comment on his departure.
A possible reason why he’s leaving, though, could be the comments he made against the network’s management in private messages to colleagues that surfaced in the Dominion lawsuit, an anonymous source told “The Post” today.
All in all, the announcement that Tucker Carlson is leaving has so far resulted in a $690 million hit to Fox Corp.
In related media news, CNN parted ways with its long-time host Don Lemon as well on Monday. NBCUniversal CEO Jeff Shell was also ousted today due to misconduct.
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