Fox Corporation stock fell as much as 5% on Monday and erased $930 million in market value after it was announced that Fox News Media parted ways with host Tucker Carlson.
Shares of the media company recovered slightly and were trading at $29.61, down almost 4% at 12:15 p.m. ET.
The split between Carlson and Fox News comes just one week after the company settled a defamation lawsuit with Dominion Voting Systems for $788 million due to the network’s spread of misinformation related to the 2020 Presidential election and unfounded claims of election fraud.
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Carlson has long been one of the most popular hosts at Fox News, with the conservative talk show personality’s 8 pm show consistently being the most-watched news show on cable TV.
more at businessinsider.com
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