Fox Corporation loses $1 billion in stock after Tucker Carlson leaves

Fox Corporation took a major financial hit following Monday’s sudden announcement that Fox News and primetime host Tucker Carlson had “parted ways.”

The parent company of Fox News, which also owns the brand’s entertainment and sports entities, saw its share price drop more than 5% in minutes after the surprise announcement.

according to According to the Washington Examiner, the stock price drop is worth more than $1 billion.

Mr. Carlson was the network’s most popular individual host. Only “The Five” surpassed “Tucker on His Carlson Tonight” in ratings last year, and Mr. Carlson’s 8 p.m. show sometimes surpassed his program at 5 p.m.

In recent days, there has been no public suspicion that Mr. Carlson will soon leave Fox News, and neither the network nor Mr. Carlson revealed the reason for the breakup until late Monday afternoon.