Carlson frequently ranked among the most-watched cable news show prior to the network's announcement they would part ways on Monday.
His departure sparked a quick drop in the price of shares ofFox News host Tucker Carlson is seen on March 29, 2019 in Washington, D.C. Carlson's announced departure from Fox News on Monday led to a quick drop in Fox Corporation's stock prices.According to MarketWatch, the price of a share in the network's stock went for about $33.52 at around 11:30 a.m. ET. By 11:55 a.m., that value dropped to $31.85, marking a nearly 5 percent decrease.
Its value has since leveled out at around $32.50 per share by the early afternoon, though that is still a drop from days prior. That equates to less than a 4 percent drop. Cristian Tiu, the chair of the Department of Finance and an associate professor of finance at the University at Buffalo, toldon Monday that it's unsurprising that Carlson's departure had an"immediate direct feedback" on the network amid uncertainty about its future without Carlson.
"A lot of the ratings on the network were geared to what he was doing," Tiu said."Just directly, for whatever Fox is doing right now...that has an immediate direct impact. Just him going is bad news for Fox, and basically it decreases the stock price."
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