It appears as though Tucker Carlson is getting the last laugh.
This week, FOX News stock was downgraded by Wells Fargo, something that would have been unthinkable just a few months ago. The network was already struggling to regain its footing in the ratings after taking Tucker off the air and now this.
It’s important to remember that this was entirely self-inflicted. They did not have to do this.
Breitbart News reports:
The Post-Tucker Blues: Fox News Stock Downgraded as Viewership Nosedives
Wells Fargo downgraded Fox Corporation stock on Monday as Fox News’s viewership continues to decline.
In May, ratings for the news outlet took a significant dive after host Tucker Carlson left the network, according to Breitbart News.
“During its 8 p.m. hour, the network has dropped from a three million viewer average to a 1.65 million viewer average since the departure of Tucker Carlson,” the article said.
Now, Wells Fargo has deemed the corporation Underweight, and Yahoo! Finance reported Monday that analyst Steve Cahall said there were “ecosystem risks” surrounding the news outlet.
“Fox’s earnings are mostly Fox News earnings, and Fox News is facing viewership and share pressures. With ecosystem risks also elevated we find our estimate outlook more negative and below the Street,” he told clients.
Newsmax took this opportunity to gloat about their growth:
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.
Newsmax’s total day rating rose 71% as Fox News declined 15% in the same period, according to Nielsen.
In the key prime-time hours, Newsmax saw its audience grow 126% as Fox’s audience fell 21%.
FOX NEWS STOCK DOWNGRADED: A major financial services company downgraded Fox Corporation stock, citing risks concerning news, earnings, and viewership. MORE: pic.twitter.com/McSu24q0do
— NEWSMAX (@NEWSMAX) July 10, 2023
This is a truly stunning development. FOX News was at the top of cable news ratings for so long, they thought that Tucker needed them more than they needed him. It’s looking like they were wrong.
