Judge Andrew Napolitano told Newsmax Monday that Fox News essentially just lost Babe Ruth with the departure of Tucker Carlson from its lineup.
“I think I was as surprised as anybody when the news came out about the departure of Tucker Carlson and I'm still scratching my head,” Napolitano said during an appearance on Newsmax’s new show “Carl Higbie FRONTLINE.” “I mean, this is like the 1927 Yankees firing Babe Ruth because of his table matters. I don't get it.”
“There must be more than meets the eye,” he continued. “He was not the most culpable person involved in the Dominion case — there were other Fox personalities, former colleagues of mine, who are arguably far more culpable — but he's the one that they decided to get rid of. The shareholders responded by reducing the shareholder value by over a billion dollars in just 12 hours.”
Business Insider reported that Fox Corporation stock (FOX) fell 5% midday Monday on the news that Carlson was leaving the network — eliminating $930 million in market value.
When asked if top brass at Fox care what the company is worth anymore, the former New Jersey Superior Court judge said, “I'm sure they care about what the company is worth.”
“You know they're willing to part with $787 million in order to settle the Dominion lawsuit,” he said. “The company is worth about $100 billion. They have about $4 billion in cash in the bank. This is according to their last financial statement.”
“There's still a lot of talent there and, as I understand it, there's still a determination on the part of senior management to make Fox work,” he continued. “Look, Fox will never be the same without Roger Ailes. He was the driving force, the managing force, the inspiration, for all the years that he ran it. But there's still a lot of talent there and they can make Fox as good as it was in the Ailes years. This is a growing pain, firing Tucker Carlson, that none of us anticipated.”
Napolitano said that it’s a “head scratcher” as to why Fox would give up its lane in conservative media, “unless there's more here than meets the eye, unless there's more information about Tucker's relationship to management that's going to come out.”
“I would think that a good conversation with him would keep him within Fox's lane and keep his four million viewers a night watching the network, but that is not to be,” he added.
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