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Tucker Carlson to depart Fox News following Dominion settlement

Fox News Media (FOXA) and conservative host Tucker Carlson have agreed to part ways — sending shares of the network down as much as 5.1% in midday trading Monday and wiping off about $500 million of Fox's value.

"We thank him for his service to the network as a host and prior to that as a contributor," the network wrote in a press release, revealing Carlson's last program aired on Friday, April 21.

"Fox News Tonight" will air in the interim, hosted by a rotating roster of personalities until a new host is named, the company said.

The news comes less than a week after FOX settled a defamation lawsuit brought on by Dominion Voting Systems for $787.5 million, one of the largest-ever settlements of a defamation case.

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The voting company had alleged false allegations of fraud against the network related to the 2020 election. It is unclear whether Carlson's departure was related to the lawsuit.

"We are pleased to have reached a settlement of our dispute with Dominion Voting Systems," FOX said in a settlement filing. "We acknowledge the Court’s rulings finding certain claims about Dominion to be false. This settlement reflects FOX’s continued commitment to the highest journalistic standards. We are hopeful that our decision to resolve this dispute with Dominion amicably, instead of the acrimony of a divisive trial, allows the country to move forward from these issues."

"Tucker Carlson Tonight" has consistently attracted viewers for the right-leaning news network. According to Nielsen, the program averaged 4.2 million viewers during the week of March 27 to finish the week as the most-watched cable news program.

Cable programming has also added to revenue gains, with the media giant reporting $451 million in ad revenue from its cable programming in its latest earnings report.

FILE - Tucker Carlson, host of
FILE - Tucker Carlson, host of "Tucker Carlson Tonight," poses for photos in a Fox News Channel studio on March 2, 2017, in New York. (AP Photo/Richard Drew, File) (ASSOCIATED PRESS)

Alexandra is a Senior Reporter at Yahoo Finance. Follow her on Twitter @alliecanal8193 and email her at alexandra.canal@yahoofinance.com

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