Tucker Carlson Cancelled - Gone From Fox News

[muttly]

Cable is a dying industry along with cable news. People are dropping the expensive service and streaming off the internet instead. Fox News will never be what it was before with their ratings and revenue. Buying cheap Fox News stock is a sucker investment.

 

[ATeam]

Cable is a dying industry along with cable news. People are dropping the expensive service and streaming off the internet instead. Fox News will never be what it was before with their ratings and revenue. Buying cheap Fox News stock is a sucker investment.

Millions of Democrats are with you, cheering on the decline of FOX News.

 

[ATeam]

Fox's shareholders are going to be a bit pissed this quarter.

FOX earnings for the previous quarter, Q1, 2023 will be announced on May 9. Carlson was employed by FOX that entire quarter, so the Carlson departure will have there will be no effect on Q1 earnings because Carlson was still there .

Carlson's last show was Friday, April 21, 2023, just three weeks into Q2. It will be three months before FOX announces its Q2 earnings. I have never looked at a FOX balance sheet so I do not know if the Carlson advertising revenue is a publicly disclosed line item. I suspect it is not. If not, it will be impossible to know from an earnings report or quarterly statement what the exact financial impact of Carlson's departure was.

If the stock price is any indication, the shareholders are not pissed now. As I said above, the Carlson departure was a non-event for FOX investors. Three months from now, the Carlson factor will be but one of dozens of factors analysts and investors consider when the stock then reacts to the earnings announcement then made. It may be as you say. It may be that shareholders become pissed. We'll have to wait three months to find out.

When shareholders become pissed one of two things happen or both happen. (A) They dump their stock. (B) Activist shareholders emerge who speak out and make demands of the board of directors.

Will A or B happen? I have no idea. Again, we'll have to wait to find out.

One thing is clear. Investors are not pissed now. The stock price closed little changed in the week Carlson was fired. FOX Class A shares average trading volume is about 4 million shares a day. On the day Carlson was fired, the volume was 3.6 million; yet another indication that investors shrugged off the news. Had the event been a major concern, volume would have been much higher than average as shareholders and institutional investors rushed to dump their stock.

Carlson is a big deal. FOX is bigger.

 

[ATeam]

Tucker Carlson Salary – $6 million Net worth – $30 million
He has no worries,,he can get by

While Tucker Carlson doesn't need his Fox News paycheck to provide for his family, the $6 million salary he takes home from the show is definitely a nice amount of pocket change (via Celebrity Net Worth

As I said, Tucker Carlson is a big deal. FOX is bigger.

For perspective, consider this: FOX market cap is about $17 billion. Carlson's net worth is $30 million.

It has been a while since my wife and I were expediters. When we were in the business, we spent $250,000 to buy a really nice, custom-sleeper CR-Unit. With their assets, Carlson could buy 120 such trucks. FOX could by 68,000.

 

[ATeam]

FOX Ratings Question

We know FOX suffered a ratings decline for the time slot Tucker Carlson occupied. On Monday there was about a 20% decline. On Tuesday the decline was about 50%. Has anyone seen numbers for Wed, Thur and Fri, or for the week as a whole? I have not been able to find any info for those days.

 

[Pilgrim]

As I said, Tucker Carlson is a big deal. FOX is bigger.
For perspective, consider this: FOX market cap is about $17 billion. Carlson's net worth is $30 million.

It appears Carlson's salary and net worth were grossly understated if this Forbes article is correct. But to state that the FOX corporate net worth is larger than one of its program hosts is a blinding glimpse of the obvious. If it were otherwise, Carlson would've left years ago or bought the company.

"Carlson, 53, was making between $15 million and $20 million a year hosting “Tucker Carlson Tonight,” Fox News’ staple one-hour long nightly talk show, according to a person familiar with contract negotiations at Fox and other networks. That salary makes him one of the highest paid people in the industry..."

Tucker Carlson Made As Much As $20 Million A Year At Fox News

Carlson was reportedly among the highest paid people in news television before he was suddenly ousted from the Fox network on Monday.

www.forbes.com

 

[Pilgrim]

FOX Ratings Question

We know FOX suffered a ratings decline for the time slot Tucker Carlson occupied. On Monday there was about a 20% decline. On Tuesday the decline was about 50%. Has anyone seen numbers for Wed, Thur and Fri, or for the week as a whole? I have not been able to find any info for those days.

This is for Thursday. It appears the Fox 8PM slot came back a little bit but the bottom is dropping out of the key 25-54 demographic.

Cable News Ratings Thursday April 27: MSNBC Scores 4 Demo Wins Over Fox, CNN in Distant Third

 

[ATeam]

But to state that the FOX corporate net worth is larger than one of its program hosts is a blinding glimpse of the obvious.

Obvious, yes. But necessary to point out for those who think the Carlson departure will end FOX.

 

[muttly]

Fox's shareholders are going to be a bit pissed this quarter.

Not only did they shuck huge amounts of cash out the window to settle a flimsy lawsuit, they torched their number one show in primetime, continued to pay a large salary to keep the person they “fired” off the air, as well as lose audience share in many of their other shows.

It appears Carlson's salary and net worth were grossly understated if this Forbes article is correct. But to state that the FOX corporate net worth is larger than one of its program hosts is a blinding glimpse of the obvious. If it were otherwise, Carlson would've left years ago or bought the company.

"Carlson, 53, was making between $15 million and $20 million a year hosting “Tucker Carlson Tonight,” Fox News’ staple one-hour long nightly talk show, according to a person familiar with contract negotiations at Fox and other networks. That salary makes him one of the highest paid people in the industry..."

Tucker Carlson Made As Much As $20 Million A Year At Fox News

Carlson was reportedly among the highest paid people in news television before he was suddenly ousted from the Fox network on Monday.

www.forbes.com

Right. He’s currently being paid 1.6 million month( times 12 months is 19.2) in his contract while he rides around in his golf cart laughing at Fox’s ineptitude.

 

[muttly]

Millions of Democrats are with you, cheering on the decline of FOX News.

As Fox News declines, other non Leftist news will rise. It’s already happening.

 

[ATeam]

Right. He’s currently being paid 1.6 million month( times 12 months is 19.2) in his contract while he rides around in his golf cart laughing at Fox’s ineptitude.

That compels this clarification. Carlson was not fired from FOX, he was benched. He remains under contract and continues to be paid. Or, he was fired but he remains bound by the non-compete provisions of his contract. Either way, the practical effect is the same.

 

[danthewolf00]

Tucker Carlson could always do guest spots on different radio shows.....

 

[ATeam]

Fox's shareholders are going to be a bit pissed this quarter.

While last week's FOX stock price activity suggests FOX shareholders in general are not pissed, there is this lawsuit filed by a particular shareholder. We do not know this person's emotional state but I think it can be accurately said that he is dissatisfied with FOX's leadership.

Fox shareholder sues Rupert Murdoch, other directors over 2020 election coverage

A Fox Corp shareholder sued Chairman Rupert Murdoch and four other board members on Tuesday, saying they failed to stop Fox News from reporting falsehoods about the 2020 U.S. presidential election that damaged its credibility and prompted lawsuits.

www.reuters.com

 

[ATeam]

Tucker Carlson could always do guest spots on different radio shows.....

Not if his contract prohibits that.

 

[ATeam]

FOX Ratings As of Wednesday

I am watching the FOX ratings data with interest. Carlson was taken off the air on Monday. Here are the numbers as of Wed: (Source)

------------------------

Carlson’s finale a week ago drew 2.65 million viewers, according to Nielsen. The data shows that Brian Kilmeade’s substitute hosting gig for “Fox News Tonight” saw ratings of 2.59 million on Monday, 1.7 million on Tuesday, and 1.33 million on Wednesday, respectively. Last Wednesday, Carlson drew about 3 million viewers, Nielsen figures show.

But the 9 p.m. Fox News program hosted by Sean Hannity drew about 2.5 million on Monday, 2 million on Tuesday, and 1.7 million on Wednesday night, according to Nielsen. In comparison, Hannity drew about 2.6 million viewers the Wednesday a week before, the ratings show.

Laura Ingraham’s “The Ingraham Angle” drew 2.156 million on Wednesday, April 19. But this past Wednesday, two days after Carlson was confirmed gone, her show drew 1.55 million viewers.

Jesse Watters’ show also saw a decline. For Wednesday, it saw an audience of 1.558 million, but a week prior, it generated 2.1 million. ...

“Gutfeld,” hosted by Greg Gutfeld, was the only Fox News primetime show that actually saw an increase. Last Wednesday, the program drew 1.8 million viewers, but this past Wednesday, it was watched by 2.02 million, according to the figures.

 

[danthewolf00]

Gutfeid has always had a good viewership he has even had more people watching his show than all of cnn combined.

 

[muttly]

 

[coalminer]

That compels this clarification. Carlson was not fired from FOX, he was benched. He remains under contract and continues to be paid. Or, he was fired but he remains bound by the non-compete provisions of his contract. Either way, the practical effect is the same.

I thought there was a ruling not long ago that basically caused all non compete clauses to be not enforceable.

 

[ATeam]

I thought there was a ruling not long ago that basically caused all non compete clauses to be not enforceable.

I'm an employer and know a little bit about non-compete clauses. I'm not a lawyer and I do not speak with that expertise.

Non-compete laws vary greatly from state to state. You may hear from one state that non-competes are unenforceable, and that may be correct. And you may hear from another state that they are enforceable, and that too may be correct.

It also matters what kind of employment contract or arrangement you have. If you are an at-will employee, your rights are different than if you are not.

It seems Carlson is under a restriction of some kind. He has several offers but remains off the air. For a celebrity, the longer you are not in front of people, the more your audience drifts away. Several companies have made public offers to him, but there is no reports of Carlson actually negotiating with these companies or even acknowledging these offers. I think this is because he is firmly bound by a non-compete clause. His current behavior is consistent with a non-compete clause.

 

[muttly]

I thought there was a ruling not long ago that basically caused all non compete clauses to be not enforceable.

Looks like it’s a proposal at this point.

FTC Proposes Rule to Ban or Limit Non-Compete Agreements | JD Supra

In July of 2021, as part of “a whole-of-government effort to promote competition in the American economy,” President Biden issued an Executive Order...

www.jdsupra.com