“Fox thrives when it is in the opposition because they have a real-time bad guy to beat up on,” said Jonathan Klein, a former president of CNN. “A Biden win would be great for Fox’s business.”

One Murdoch executive envisions the Fox prime-time lineup emerging as “the standard-bearer of the resistance” under a Biden administration. And former Fox executives point to the network’s role in championing the tea party movement in the Obama years as a model for how the network could find a way forward should Trump lose in November.

“If anything, I think they will be more successful,” said Sean Graf, who worked at Fox for the news division’s well-regarded research staff before leaving in January 2020. “There’s going to be an audience for Biden controversy.” And few envision viewers abandoning Fox for lower-rated rivals such as the conservative upstarts One America News or Newsmax.

The greater risk for Fox News, as exists for all cable news outlets post-Trump, is that with the frenetic atmosphere of the Trump administration gone, viewers will be less likely to tune in altogether.