Fox CEO Says ‘No Change’ in Programming Despite Tucker Ouster and Dominion Settlement Wiping Out Profits

AP Photo/Seth Wenig

Fox Corporation CEO Lachlan Murdoch told investors there would be no change in the programming at Fox News, following a turbulent month in which the network paid $787.5 million to settle a defamation case with Dominion Voting Systems and ousted its most popular yet controversial host, Tucker Carlson.

“As regards to our programming strategy in prime time, there’s no change to our programming strategy at Fox News,” Murdoch said. “It’s obviously a successful strategy. As always, we are adjusting our programming and our lineup and that’s what we continue to do. We are pleased with the strength of the advertising demand throughout our schedule, but particularly in prime time.”

Carlson was fired last month, one week after Fox reached a settlement agreement with Dominion over false claims aired about the company in the aftermath of the 2020 election. Carlson’s abrupt ouster has sparked outrage among Fox News viewers, and ratings of the 8 p.m. slot have dropped in the weeks since as a rotating cast of hosts fill-in. The network continues to beat the CNN and MSNBC competition in the ratings overall.

Fox Corporation, the parent company of Fox News, took a hit in its third quarter earnings thanks to the Dominion settlement. The company reported a loss of $719 million, which included the cost of the hefty settlement, leaving Fox with a $50 million net loss overall for the quarter.

It was a steep drop from the third quarter last year, when Fox pulled in a $290 million profit.

The loss came despite Fox raking in cash from Super Bowl ads in February and revenues growing 18% year over year to $4 billion.