Report: Fox Corp. Lost $800 Million in Market Value After Tucker Carlson Departure

The Fox Corporation reportedly lost $800 million in market value at its low point on Monday after Fox News Media announced they and Tucker Carlson “agreed to part ways,” according to a report.

CBS News’s Aimee Picchi reported:

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.

It appears Picchi was referencing figures in Fox Corporation’s class B stock.

As of about 1:40 p.m. Wednesday, Yahoo Finance showed that the class B stock of the Fox Corporation, which is comprised of Fox News Media, Fox Entertainment, Fox Sports, and Fox TV Stations, was trading at $29.88 a share. This is $1.10 less than the stock’s peak Monday value of $30.98 soon after the markets opened.

Monday’s losses for Fox Corporation came days after Fox settled a hefty defamation lawsuit with Dominion Voting Systems for $787 million as the parties were about to go to trial.

It remains unclear what led to the split between Carlson and the network.

Multiple reports, citing anonymous sources, have indicated that Fox News CEO Suzanne Scott and Fox Corporation CEO Lachlan Murdoch arrived at the decision to separate from the host on Friday evening.

Carlson told viewers he would be “back” this week after signing off his broadcast on Friday and reportedly learned of the move on Monday morning.

He appeared to be in good spirits when the Daily Mail caught up with him and his wife Susan on Tuesday near their Boca Grande home in Floirda, as Breitbart News noted.

“Retirement is going great so far,” he quipped as the couple headed out for a date night.

“I haven’t eaten dinner with my wife on a weeknight in seven years,” he added.

When asked about his future plans, he teased, “Appetizers plus entree.”

For much of Tuesday, Carlson was with his producer, Justin Wells. They discussed potential future moves, according to the Mail, though he is unlikely to make any commitments while his attorney, Bryan Freedman, negotiates his departure with Fox Corporation.