Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche


The Strange War on Fox News and Tucker Carlson

The strange war on Fox News that progressives are waging is both confusing and bothersome.

To explain, dozens of companies are pulling ads from Fox News because of criticism from various left-wing groups, The Guardian reports. In particular, a group called Media Matters for America is demanding Fox fire top-rated host Tucker Carlson because of old tapes made by shock jock Bubba the Love Sponge.

Worst of all the Bubba the Love Sponge attacks were made on a competing show All in with Chris Hayes on MSNBC, Variety reports. Specifically, All In airs in the same time slot as Tucker Carlson Tonight on a rival network. Moreover, Bubba is the same creep who wrecked Hulk Hogan’s life; and destroyed Gawker, with an illegal sex tape a few years back.

The attacks on Carlson are disturbing because they started after he began discussing income inequality and criticizing capitalism on air. Moreover, attacks on other Fox personalities only began after the network aired a Carlson  monologue attacking America’s economic system in January 2019.

The Strange War on Fox News over Income Inequality

Cynics will wonder if the real motivation for the war on Fox News is to keep any criticism of capitalism off American television. Notably, the damning tapes about Carlson have been around for 10 years but they only surface now.

In addition, Fox hosts like Jeanine Pirro have been saying nasty things about minorities for years and nobody seemed to care until Carlson dared criticize the economy. Hence the message to the media is “bashing people of color and Muslims is fine but do not talk about income inequality.”

Finally, The New Yorker is alleging Fox News has close ties to the Trump administration and serves as a propaganda outlet for the President. However, the same criticism can easily be leveled against more main stream outlets like CBS.

I have to wonder if Fox News’ real crime is allowing criticism of capitalism to appear in prime time. Notably, Carlson dared discuss taboo subjects like the destructive effects modern capitalism can have on families and communities on air. Indeed, Carlson wonders if big corporations are planning to market marijuana in middle America.

Hence, the war on Fox News seems more like corporate censorship of anti-capitalist opinion than political correctness. In fact, political correctness could have passed a dangerous new threshold in America. To explain political correctness is being used to silence critics of big business.

Fox News is Having Trouble Attracting Advertisers

Revealingly, the war on Fox News is working. Variety reports ratings for Tucker Carlson Tonight are steady but the show is attracting fewer advertisers.

For instance, the show featured just four advertising breaks and fewer ads from big national brands on 11 March 2019. Instead, Carlson’s sponsors include direct sales products like My Pillow and pharmaceutical makers.

However, Carlson is still among Fox’s top three ratings getters. Frighteningly, self-styled progressives could have figured out how to make any discussion of income inequality or economic justice toxic to TV programmers.

Disney is not buying Fox News

The strange war on Fox News is taking place as the Walt Disney Corp (NYSE: DIS) is buying Fox News’ parent 21st Century Fox (NYSE: FOX) for $85.1 billion in cash, stock, and debt.

Notably, TechCrunch reports Disney has permission from regulators to take ownership of 21st Century Fox next on March 20. However, that deal does not include Fox News.

Instead, Fox’s TV assets, including Fox News are being spun out into a new company called the Fox Corporation. To explain, Disney has no interest in Fox’s broadcast and cable TV networks. Instead, Disney wants Fox’s TV and movie studios and a stake in the streaming service Hulu.

My guess is that Disney wants to concentrate on entertainment and ignore the dying broadcast and cable TV networks. In addition, Disney avoids all the controversies surrounding Fox News with this acquisition. Moreover, Disney; which owns ABC, can avoid antitrust regulations by not buying the Fox networks.

Is Fox News Making Money?

Strangely, 21st Century Fox is making right now. For instance, 21st Century Fox reports a gross profit of $2.494 billion, an operating income of $1.396 billion, and net income of $10.815 billion for 4th Quarter 2018.

In addition, 21st Century Fox’s revenues grew at a rate of 5.75% during 4th Quarter 2018. Plus 21st Century Fox had $21.281 in cash and equivalents on 31 December 2018.

Thus, 21st Century Fox and its networks are apparently lucrative businesses. However, Disney is more interested in tearing them apart for assets such as an increased stake in Hulu and the movie rights to various Marvel Super Heroes.

To explain, 21st Century Fox owns the movie rights to the X-men, the Fantastic Four, and Deadpool; which explains why those characters cannot appear in Avengers movies.

Disney shows the war on Fox is working

Under these circumstances, it appears that the Strange War on Fox News is working. Disney wants nothing to do with TV news which demonstrates that the age of television and Fox News could soon come to an end.

I have to wonder will any TV news personality be willing to express any opinion after what they did to Tucker Carlson. Instead, political opinion will retreat to the internet and social media where it will find a tough time reaching a mass audience. Hence the strange war on Fox News is working.

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