Posted on 07/10/2023 10:37:51 AM PDT by Navy Patriot
A major financial services company downgraded Fox Corporation stock, citing risks concerning news, earnings, and viewership.
Wells Fargo analysts downgraded shares of Fox Corporation (NASDAQ:FOXA) to underweight from equal weight on Monday, lowering the price target to $31 from $35 per share.
"Fox News is the FOXA cash cow at ~80% of our FY24E EBITDA," the analysts said, Investing.com reported. "Viewership is down -19% Jan-June'23 vs Jan-June'21 due to cord cutting and/or programming.
"More worryingly, Fox News was 52% of cable news primetime viewership for 2020-22, 51% in Jan'23, and that has slid to a low of 38% in June'23 post-TC. FN's share of conservative news viewers has fallen from 94% to 84%."
Fox News saw a significant ratings decline after its termination of its number one rated host Tucker Carlson.
(Excerpt) Read more at newsmax.com ...
Bwahahahahahahaha
Sux to be Fox.
Great News.
FAUX News hasn’t declined enough in my opinion.
I guess I’ll have to watch the rest of “Succession” to see how this turns out. To my mind, that show was modeled on the Murdoch empire. Maybe life will imitate art here?
If only all the woke would go broke it would be a good disincentive about “fundamentally transforming America.”
At some point (spring of 2024)...I expect it low enough that Elon might suggest another company to acquire.
Bankruptcy would be enough
Fox doesn’t care. They are aiming to be “cool kids” and go to the best Manhattan parties.
LOL! Couldn’t happy to a better fake news network.
They did it to themselves!
Go Woke, Go Broke! It would not be difficult for them to shower their shareholders with a boat load of extra cash... Hire back Tucker and make him head of the network with the ability to hire and fire the lackeys who have been running it into the ground... And of course, shove the Murdoch kids out completely.
happen
Pleased to deny Fox News my $24 /year carriage fee by cutting the cord the day after they took Tucker off.
But it gets worse for the Murdock spawn. Back in April, Fox announced plans to jack it up to $3 per month, which would have been a tough sell to the cable/sattelite providers even before they blew their feet off.
Foxweiser.
And all the accolades have to go to Paul Ryan and the Murdoch kids. This proves they are successful in their efforts to emulate CNN and MSNBC.
Bwahahahahaha....
They may be taken over by CNN and become CNN2.
Not a good thing to tick off your base.
Go woke, go broke.
Oh well, onto Breitbart and/or Newsmax. Or how about NO cable of any kind. Starve “em all!!
We’ve got Free Republic ..what else do we need?
No one can convice me that Fox either cares about ratings or is not shifting to the left on purpose, ratings be damned.
They put woke above ratings and don't care about a loyal fanbase and just keep doubling down like efftards.
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