Paul Ryan and Rupert Murdoch Suffer Blow as Fox Stock Price Takes Huge Hit after Tucker Carlson Exit

Fox Corporation’s stock has just taken a massive hit after news broke that the top host in all of cable news, Tucker Carlson, was leaving the network.

The Rupert Murdoch-controlled company, where Paul Ryan has a board seat, lost $1 billion in market capitalization when its stock price dropped more than 5% in the minutes after the separation hit the news.

The stock price has slightly increased and is down around 4% since the announcement.

This comes as Fox News is negotiating its carriage fees with Comcast and others.

Carriage fees are a huge source of Fox’s profit.

Fox News recently bragged that in the first quarter of 2023, Tucker Carlson’s show was the “highest-rated program in cable news in the younger 25-54 demo, averaging 3.2 million viewers, 443,000 in the demo and 299,000 in the 18-49 category.”

Nevertheless, Fox announced today that it is cutting ties with the network’s star anchor.

“FOX News Media and Tucker Carlson have agreed to part ways,” the network said in a statement.

“We thank him for his service to the network as a host and prior to that as a contributor.”

Carlson’s last show was Friday.

Fox will air a new program called “Fox News Tonight” at 8 pm, starting Monday evening.

This will be an interim show hosted by different Fox News personalities.

Meanwhile, failing CNN also fired Don Lemon within hours of Fox and Carlson parting ways.

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Lemon was furious by the news and said he was “informed” that he had been fired by his agent.

“I was informed this morning by my agent that I have been terminated by CNN. I am stunned,” Lemon said in a post on Twitter.

“After 17 years at CNN, I would’ve thought that someone in management would’ve had the decency to tell me directly.

“At no time was I ever given any indication that I would not be able to continue to do the work that I have loved at the network.

“It is clear that there are some larger issues at play,” he alleged.

“With that said, I want to thank my colleagues in the many teams I’ve worked with for an incredible run.

“They are the most talented journalists in the business, and I wish them the best.”

READ MORE: AOC Demands Tucker Carlson and Other Critics Banned from TV

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By David Hawkins

David Hawkins is a writer who specializes in political commentary and world affairs. He's been writing professionally since 2014.

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