The Fox Corporation, which owns Fox News Media, Fox Entertainment, Fox Sport, and Fox TV Stations, was hammered by a major stock market loss on Monday after Fox News fired Tucker Carlson, one of its top hosts. In fact, it reportedly lost about $800 million in market value when the stock crashed on Monday after Fox News Media announced they and Tucker Carlson “agreed to part ways.”
Such is what a report by CBS News’s Aimee Picchi on the price of The Fox Corporation’s Class B stock price reported, saying:
Shares of Fox dropped to a low of $29.27 on Monday, a decline of 5.2%, representing a loss in market value of more than $800 million, before rebounding slightly later in the day. Shares also fell slightly on Tuesday, but the stock regained ground on Wednesday, rising 28 cents, or almost 1%, to $30.
Things then went downhill again for the Fox Corporation on Wednesday, with Breitbart reporting that the shares of Fox Corporation Class B stock were “trading at $29.88 a share…$1.10 less than the stock’s peak Monday value of $30.98.“
As of the close on Thursday, Fox Corp. Class B stock had risen slightly to $30.15, but it then fell in after-hours trading to $29.75 as of the time this article was written. Though not the low seen after Tucker’s firing on Monday, that’s still a significant dip from the start of the week.
It is still unclear why Tucker was fired, though he has suggested that it was because Lachlan Murdoch, the Fox Corporation CEO and son of Rupert Murdoch, wants to sell the company.
Tucker, for his part, is in good spirits. Spotted by the Daily Mail when leaving his home for dinner, he said, “Retirement is going great so far.” He added, “I haven’t eaten dinner with my wife on a weeknight in seven years.” Then, when asked about his future plans, he joked, “Appetizers plus entree.”
He also released a video on Twitter in which he ripped into the corporate media and the political class, saying:
“Good evening. It’s Tucker Carlson, one of the first things you realize when you step outside the noise for a few days is how many genuinely nice people there are in this country, kind of decent people, people who really care about what’s true and a bunch of hilarious people. Also, a lot of those, it’s got to be the majority of population even now. So that’s heartening.”
“The other thing you notice when you take a little time off is how unbelievably stupid most of the debates you see on television are, they’re completely irrelevant. They mean nothing. In five years, we won’t even remember that we had them, trust me as someone who’s participated, and yet the same time.
“And this is the amazing thing, the undeniably big topics, the ones that will define our future, get virtually no discussion at all war, civil liberties, emerging science, demographic change, corporate power, natural resources. When was the last time you heard a legitimate debate about any of those issues? It’s been a long time.
“Debates like that are not permitted in American media. Both political parties and their donors have reached consensus on what benefits them, and they actively collude to shut down any conversation about it. Suddenly, the United States looks very much like a one-party state.”
“That’s a depressing realization. But it’s not permanent. Our current orthodoxies won’t last. They’re brain dead, nobody actually believes them. Hardly anyone’s life is improved by them. This moment is to inherently ridiculous to continue.
“And so it won’t. The people in charge know this. That’s why they’re hysterical and aggressive. They’re afraid. They’ve given up persuasion, they’re resorting to force, but it won’t work. When honest people say what’s true calmly and without embarrassment, they become powerful.
“At the same time, the liars who’ve been trying to silence them shrink and they become weaker. That’s the iron law of the universe. True things prevail. Where can you still find American saying true things? There are many places left but there are some and that’s enough. As long as you can hear the words there is hope. See you soon.”
Watch him here:
Good evening pic.twitter.com/SPrsYKWKCE
— Tucker Carlson (@TuckerCarlson) April 27, 2023
Featured image credit: screengrab from the embedded video
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