O’Reilly, the powerful host at Fox News for a couple of decades, has been forced out of his prime-time position amid a series of sexual harassment allegations against him.
21st Century Fox, the parent company of Fox News, announced on Wednesday that O’Reilly will not be returning to his position as host of the “The O’Reilly Factor.”
The decision to force out the 67-year-old former cable news king came after more than 90 advertisers abandoned his highly rated program amid a barrage of sexual harassment allegations.
The advertisers fled after the New York Times reported earlier this month that five women were paid $13 million by O'Reilly or Fox to settle sexual harassment suits.
CNN reported on Thursday that O’Reilly recently signed a contract worth $25 million per year with Fox News. O'Reilly’s extension ran through 2021.
Fox News now has to pay "tens of millions" in severance, according to CNN.
O’Reilly’s departure was a stunning reversal for a company that had long stood by him and considered him the network’s top asset.
But even after the ouster, some employees said they were skeptical about whether the treatment of women at Fox News would actually change.