Shares of the media company recovered slightly and were trading at $29.61, down almost 4% at 12:15 p.m. ET. settled a defamation lawsuit with Dominion Voting Systems for $788 million
due to the network's spread of misinformation related to the 2020 Presidential election and unfounded claims of election fraud. Carlson has long been one of the most popular hosts at Fox News, with the conservative talk show personality's 8pm show consistently being the most watched news show on cable TV.
"FOX News Media and Tucker Carlson have agreed to part ways. We thank him for his service to the network as a host and prior to that as a contributor," The company said it will fill the 8pm hour with a rotation of Fox News personalities until it names a new host.