Viacom shares were slammed to the tune of $350 million on Wednesday after "The Daily Show" host Jon Stewart announced on Tuesday night that he would leave the Comedy Central news satire program sometime this year.
The media conglomerate parent company's value slid by nearly 1.5% the day after Stewart's announcement, Fortune reported.
Shares now stand at $67.64, up $0.48 (+0.72%) intraday on expected weekend box-office strength from the corporation's Paramount Pictures release "Spongebob Squarepants: Sponge out of Water" but 10.11% down year to date.
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Stewart's post-"Daily Show" brand could be worth $100 million annually, said Ross Levinsohn, a former interim Yahoo CEO and current board member of Scout Media.
"There is a generation of fans who would follow Jon Stewart probably anywhere," Levinsohn told CNBC's "Fast Money: Halftime Report" on Thursday. Levinsohn arrived at the amount by estimating 1 million subscribers paying $8 per month, plus advertising income and other revenue streams.
SEE ALSO: Ex-Yahoo CEO: I would pay Jon Stewart $100 million per year to relaunch his show
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NOW WATCH: Watch Jon Stewart break it to his audience that he's leaving 'The Daily Show'