Fox shares drop after announcing Tucker Carlson, a top ratings draw, is leaving

Fox Corporation shares dropped on Monday after the media company said in a terse comment that it is parting ways with star host Tucker Carlson.  

Carlson, whose last show was on Friday, April 21, is leaving Fox News even as he remains a top-rated host for the network, drawing 334,000 viewers in the coveted 25- to 54-year-old demographic in the 8 p.m. slot for the week ended April 20, according to AdWeek. That was more than twice the audience of his competitors at CNN and MSNBC in the same hour, and also represented a bigger audience than other Fox News hosts such as Sean Hannity or Laura Ingraham. 

Shares of Fox dropped more than 5%, to as low as $29.27 per share.