Fox stock sinks after Tucker Carlson departure

Shares of Fox Corporation fell Monday after Fox News announced the departure of longtime host Tucker Carlson. 

The company’s class A stock was down roughly 3.6 percent by 1 p.m., falling from close to $34 per share to under $32. Class B stock fell roughly 3.4 percent, from $31 to $29.

The network announced on Monday that Carlson and the network “mutually agreed” to go separate ways, effective immediately. Carlson’s last show was last Friday, and an interim show will be held with rotating hosts until a replacement is found. 

More media coverage from The Hill:

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• Don Lemon out at CNN
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• Trump cheers Lemon’s CNN ouster
• Fox News faces next round of legal threats from Smartmatic
• Dan Bongino parts ways with Fox News
• The biggest takeaways from the Fox News / Dominion settlement
• BuzzFeed News shuts down

The departure and subsequent stock hit come shortly after Fox agreed to a $787.5 million settlement with Dominion Voting Systems over defamation charges.

The abrupt news of Carlson’s exit was followed by news that longtime CNN host Don Lemon was departing his network.