Understanding this requires a quick look at the economics of cable TV news. As of 2022, the top cable and satellite providers served about 76 million households. The carriage fees for Fox News appear to be the second-highest of any channel, behind only ESPN. Fox averaged 2.26 million viewers in prime time for February, while MSNBC had just over half that, at 1.17 million. And these carriage fees are more important for Fox News than for CNN and MSNBC because many major advertisers have fled Fox.

Source: CNN April 19, 2023 22:10 UTC