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Fox News Stock Downgraded as Viewership Declines Post-Tucker Carlson

Wells Fargo has downgraded Fox Corporation stock as Fox News continues to experience a decline in viewership. The departure of host Tucker Carlson has been cited as a significant factor in the network’s ratings drop. Analyst Steve Cahall from Wells Fargo highlighted the “ecosystem risks” surrounding Fox News, leading to the corporation being deemed underweight.

Declining Viewership and Carlson’s Departure:

Since Tucker Carlson left the network, Fox News’s viewership during the 8 p.m. hour has dropped from an average of three million viewers to 1.65 million viewers. The Economist/YouGov survey conducted in May revealed that one-quarter of American adults reported watching Fox News less often after Carlson’s departure. However, Carlson has since announced a fresh version of his show on Twitter.

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Factors Affecting Fox News:

Photo Credits: DepositPhotos

Fox News has historically held a significant share of cable news primetime viewership, but it has seen a decline in recent months. Its share of conservative news viewers has fallen from 94% to 84%. The new primetime lineup may have the potential to drive a rebound, but Wells Fargo views Fox News as a “Show Me viewership story,” indicating the need for evidence of improved viewership.

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Criticism and Audience Shift:

Critics, including Breitbart News’s Washington Bureau Chief Matthew Boyle, have attributed Fox News’s decline to its perceived lack of edginess and failure to push boundaries. Boyle also mentioned the network aligning itself with leftists. Former President Donald Trump has also remarked that fewer people are watching Fox News.

Conclusion:

The downgrade of Fox Corporation stock by Wells Fargo reflects the ongoing decline in Fox News’s viewership, particularly following Tucker Carlson’s departure. The network has faced criticism for its content and perceived alignment with left-leaning perspectives. While the new primetime lineup may offer potential for a rebound, the future of Fox News’s viewership remains uncertain, prompting caution from analysts.

 

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Malik is a skilled writer with a passion for news and current events. With their keen eye for detail, they provide insightful perspectives on the latest happenings. Stay informed and engaged!