After Fox News Channel declined to air a paid advertisement promoting Mike Lindell’s symposium on election fraud, the MyPillow CEO announced that he would be pulling all of his commercials from the network.
The cable news giant’s decision appears to have sparked a chain reaction that could result in millions of dollars of lost revenue, according to reports.
“Shame on you, Fox News”
MyPillow reportedly contributed $50 million to Fox News last year alone and, until recently, was among the dwindling number of companies willing to advertise heavily on the top-rated news channel.
Many other advertisers have pulled ads from specific shows or the network entirely amid boycott threats or other pressure from leftist groups and activists.
Now, it appears Fox News has alienated one of its last remaining advertisers by deciding not to run Lindell’s ad.
In a statement, the vocal ally of former President Donald Trump declared his intentions to pull MyPillow advertisements “immediately,” adding: “Shame on you, Fox News. Shame on them!”
Not only will Fox News likely lose millions, but a growing competitor has agreed to run the ad in question. Newsmax TV has taken a bite out of Fox News Channel’s market share and is now poised to bring in some of its ad revenue.
“A First Amendment right to free speech”
“We do not endorse any political or issue ad that appears on our network,” Newsmax clarified in a statement on the matter. “We do believe, however, that all Americans have a First Amendment right to free speech.”
Lindell’s upcoming symposium in Sioux Falls, South Dakota, was apparently too controversial for Fox News. Although the ad makes no direct allegations about voter fraud, Lindell has become known for questioning the results of November’s presidential race.
Fox News has been shedding viewers as more Trump-friendly networks like Newsmax compete for ratings. Considering Lindell’s popularity among conservative viewers, his decision to pull MyPillow ads from the network could have a lasting negative impact.
If Fox News bosses want to reverse the current trend, they might be wise to repair the relationship with Lindell as soon as possible.