Controversial broadcaster Piers Morgan's resignation from Good Morning Britain is costing the network $360 million.
ITV's shares slid 3.8 percent on Wednesday following the resignation of the controversial talk show host.
Morgan, 55, stormed out of the studio during a live broadcast on Tuesday after a colleague called out his "diabolical behaviour" towards Meghan Markle, the Duchess of Sussex.
The day prior, the broadcaster was widely condemned after he claimed he didn't "believe a word" Markle had said during her bombshell, tell-all interview with Oprah Winfrey.
Markle revealed she was refused support by the Palace while struggling with suicidal thoughts as a working royal, a claim Morgan questioned on-air.
More than 41,000 complaints were made against the show to Britain's communications regulator, Ofcom.
ITV later issued a statement that Morgan had decided to leave the show after six years.
"Following discussions with ITV, Piers Morgan has decided now is the time to leave Good Morning Britain," the television network said in a statement on Tuesday (local time).
"ITV has accepted this decision and has nothing further to add."
On Tuesday, ITV also unveiled a 39 percent fall in profits in 2020 after halting productions last year.
The Duchess of Sussex filed a formal complaint to ITV after Morgan suggested she had lied about her mental illness.
According to multiple reports, Markle raised concerns with ITV CEO Carolyn McCall over how his comments might affect people struggling with mental health problems.