He still has numbers that just about any cable news host would envy and, with about two million viewers a night, outdraws all his competition combined. But the erosion is significant enough that Fox News officials are willing to say — anonymously, of course; they don’t want to be identified as criticizing the talent — that they are looking at the end of his contract in December and contemplating life without Mr. Beck.

On the other side, people who work for Mr. Beck point out that he could live without Fox News. Unlike some other cable hosts, Mr. Beck has a huge multiplatform presence: he has sold around four million books, is near the top of talk-radio ratings, has a growing Web site called The Blaze, along with a stage performance that still packs houses. Forbes estimated that his company, Mercury Radio Arts, had more than $30 million in revenue…

“He used to be a lot funnier,” said David Von Drehle, who wrote the article in Time magazine. “He was the befuddled everyman and something entirely new, but the longer people have listened to his ranting and raving, the wearier they become. Now you are just getting down to diehards. I mean, how many people were in the Waco compound at the end? A couple of hundred?”