Star host Tucker Carlson's abrupt exit from Fox News is likely to hit short-term ratings but could nudge more mainstream advertisers to consider a network they have snubbed for being too partisan, investors and analysts said.
News of his departure on Monday wiped nearly US$1 billion from the market valuation of the network's parent company, Rupert Murdoch-controlled Fox Corp. The stock was also down on Tuesday."It's a huge deal," said Matthew Tuttle, head of Tuttle Capital Management, an investment firm that is betting against Fox shares.
The conservative-leaning Carlson's prime-time show was the highest-rated cable news program in the key 25-to-54 age demographic on Fox News - the most-watched U.S. cable news network. It averaged nightly viewers of around 3.4 million in March, according to Nielsen. "We wonder what Fox is going to tell advertisers. It's likely that advertisers who were seeking that audience may have limited other options for conservative news viewership without skewing too conservative.""The long game here is probably the ad game.
"A shift away from fanatical conspiracy content, less 'My Pillow' stuff, might begin to re-attract big-time advertisers," Arthur said.
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