We probably all know by now that political satirist Jon Stewart is leaving his gig as host of The Daily Show sometime later this year. What we didn't know is how much of a financial impact his departure would have on Comedy Central's parent company's stock price. Well, now we know... and the answer is “it's HUGE!”
When Stewart announced to audiences that he planned to exit The Daily Show earlier this week, it's safe to say fans were left nothing short of devastated. As rough as that pill may have been for some of us to swallow, it couldn't possibly have been worse than for Viacom execs and shareholders, who were undoubtedly left gagging, if not choking, after being force-fed news of a massive drop in company share price. According to The Wrap, the Wednesday after Stewart's announced departure, shares dropped nearly 1.5% on the NASDAQ, which doesn't sound like much until you know that it's equivalent to $350 million dollars.
I'm not a dedicated watcher of The Daily Show with Jon Stewart but I am a fan of the comedian and I'm an occasional viewer. I do know, however, the deadpan comedian has an enormous following of hardcore fans, who are likely to follow him wherever he may go, post Comedy Central. To illustrate that point his brand is being touted as worth approximately $100 million annually, which is certainly no laughing matter. With numbers like that being tossed around, the soon-to-be former-anchor will likely have more than a handful of enticing offers tossed his way.
Talk of Stewart's exit from The Daily Show first began late last summer. However, it wasn't until three days ago that it was officially announced to the public. Comedy Central first dropped the news via Twitter, with a genuine message championing the comedian for his talents both in front of and behind the camera and essentially thanking him for his almost two-decade dedication to the show. Then Stewart himself delivered a heartfelt announcement on air, saying “it's time for someone else to have that opportunity” as host of the show. Although he did make jokes about his next plans only involving “dinner on a school night” with those close to him, it's clear to me in the clip below that he will miss his days with the network and his Daily Show team, whom he called “creative, collaborative and kind.” See for yourself below:
Stewart's contract ends in September so he'll probably remain host of The Daily Show at least until that time. Where he will end up after that is anybody's guess. He currently doesn't have any acting projects on the docket but with the success of his recent feature film directorial debut Rosewater released last year, we may see him behind venture behind the camera again in the coming years. In the meantime, it's likely he'll be keeping busy writing and exec producing The Nightly Show with Larry Wilmore.
