So I guess dumping the most popular show in cable news, Tucker Carslon wasn’t such a wise decision for Faux as they continue to pander to the left. Fox News stock has been downgradeds as viewership continues to plummet after the Tucker Carlson firing. Many people quit watching the neocon network after November 3rd, 2020. The Tucker Carlson charade was the final nail in the coffin.
A major financial services company downgraded Fox Corporation stock, citing risks concerning news, earnings, and viewership.
Wells Fargo analysts downgraded shares of Fox Corporation (NASDAQ:FOXA) to underweight from equal weight on Monday, lowering the price target to $31 from $35 per share.
“Fox News is the FOXA cash cow at ~80% of our FY24E EBITDA,” the analysts said, Investing.com reported. “Viewership is down -19% Jan-June’23 vs Jan-June’21 due to cord cutting and/or programming.
“More worryingly, Fox News was 52% of cable news primetime viewership for 2020-22, 51% in Jan’23, and that has slid to a low of 38% in June’23 post-TC. FN’s share of conservative news viewers has fallen from 94% to 84%.”Fox News saw a significant ratings decline after its termination of its number one rated host Tucker Carlson.
The network has yet to reveal why it had removed Carlson from his prime time perch.
Meanwhile Newsmax has seen a significant ratings rise.