“In short order they may go over the edge and be in free fall.
That never ends well.”
Apparently the Murdochs don’t care. They are wealthy, and they can sacrifice FNC. Anyone with an IQ above room temperature could see that disaffecting your core viewership and trying to be a cheap knockoff of two of your competitors isn’t a good business plan.
I believe that is what you call a “hobby business”
Apparently advertisers are willing to pay for ad time.
The Murdochs made all the money they were going to get out of FOX when the sold the valuable portions of it to ABC/Disney in 2019. The remaining carcass, which kept the FOX name, could only continue to decline in value. The Murdochs likely figured they'd throw it into controversy to squeeze any last profit out of it before having it crash out.
The writing is on the computer screen that these Fixed Transmission Televideo shows are going to continue their downward spiral as they can't compete with streaming, websites and apps with links, comments, etc. It's just like broadcast radio losing out to streaming, podcasts, and downloads.