A house divided cannot stand as Fox Corp (FOXA, FOX) recently demonstrated. In a shocking move, the parent company of Fox News unceremoniously parted ways with on-air personality Tucker Carlson. Immediately, FOXA stock stumbled sharply, paring back some losses to close Monday down 2.91% against the prior session. Subsequently, activity soared in the derivatives market for its Class A and B shares, with both incurring negative implications.
As the Associated Press reported, Fox mentioned that its news network and Carlson “agreed to part ways.” However, the company offered no explanation for the shocking decision, only stating the now obvious – the last broadcast of the immensely popular “Tucker Carlson Tonight” aired last Friday. Interestingly, at the time, Carlson ended the show by saying, “[w]e’ll be back on Monday.”
