Analyst Downgrades Fox's Stock

With Fox News spending a lot of its profits on settling legal action against them, it should come as no surprise that a stock analyst has downgraded Fox’s stock.

Wells Fargo analyst Steven Cahall downgraded Fox Corp. stock to “underweight” from “equal weight” as lower ratings at Fox News Channel and cord-cutting threaten to cut into earnings.

Fox News still leads the way in the cable news ratings, but it has shed viewers over the past few years, and that trend will likely continue as more people cut the cord.

Fox News is moving to an all-white male primetime lineup in an effort to bring back some of the base viewers they lost.