When the bombshell that Fox News and its star primetime host Tucker Carlson were parting ways hit the wire just before 11:30 a.m. Et on April 24, Fox Corp.’s share price went into a free fall.
In minutes, the stock price fell 5.5 percent, wiping out more than $900 million from the company’s market cap.
If Fox News is the financial crown jewel of Fox Corp. (defamation cases notwithstanding), Carlson was arguably its shiniest gem, by far the most watched individual host on the channel, and the one host that went all in on populism even as many of his colleagues toed the party line.
In the company’s last fiscal quarter earnings, Fox had revenue of $4.6 billion and net income of $321 million. The cable division (of which Fox News is the largest component by far) accounted for only $1.6 billion in revenue (about a third of the company’s revenue...
In minutes, the stock price fell 5.5 percent, wiping out more than $900 million from the company’s market cap.
If Fox News is the financial crown jewel of Fox Corp. (defamation cases notwithstanding), Carlson was arguably its shiniest gem, by far the most watched individual host on the channel, and the one host that went all in on populism even as many of his colleagues toed the party line.
In the company’s last fiscal quarter earnings, Fox had revenue of $4.6 billion and net income of $321 million. The cable division (of which Fox News is the largest component by far) accounted for only $1.6 billion in revenue (about a third of the company’s revenue...
- 4/25/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
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