Fox loses $1 BILLION after 'parting ways' with Tucker Carlson

Fox Corporation’s stock plummeted as much as 5 percent on Monday, wiping out $930 million in market value following the announcement that Fox News had parted ways with primetime host Tucker Carlson. 

According to Business Insider, shares of the media company recovered slightly later in the day and were trading at $29.61, down almost 4 percent by 12:15 pm Eastern Time. By the market's close, shares had gone up slightly to finish at $29.91.

The decision to part ways with Carlson was announced less than a week after Fox Corporation and Dominion Voting Systems reached a $787 million settlement after private text messages were revealed from Fox hosts, including Carlson, who criticized the Fox News management.