KeyBanc analyst Brandon Nispel notes that it was announced on Monday that Fox News will be parting ways with host Tucker Carlson. The firm views this news as negative to the stock, which has fallen as much as 5.5% intraday since the news broke. This is all likely potential fall-out from the internal text messages from the Dominion Voting Systems lawsuit. From the firm’s perspective, FOX Cable News is now in rebuilding mode, and it will likely take time for the stock to recover. Tucker Carlson Tonight was the dominant Cable Network broadcast and one of Fox News’ most watched program, where likely viewership will be impacted near-term, KeyBanc notes. Despite the share of viewership the show had, Fox News still owns the top five most watched programs in cable news, and the firm would expect the channel to regain the majority of its overall viewership once a replacement host is announced.
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