Bill O'Reilly will exit Fox News with a severance package valued at about $25 million, a person familiar with the matter said, after he was forced out in the wake of sexual-harassment allegations.
"The O'Reilly Factor" host had recently signed a four-year deal at Fox News valued at $100 million, people with knowledge of the contract said. That contract also contained provisions allowing Fox News and parent company 21st Century Fox to pull the plug on Mr. O'Reilly should he become ensnared in any controversies, these people said.
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A spokeswoman for Fox News referred calls to representatives for 21st Century Fox, who didn't respond to requests for comment.
Mr. O'Reilly has denied all of the accusations against him and said Wednesday that it is "tremendously disheartening" that he is parting ways with Fox News "due to completely unfounded claims." Fox News replaced "The O'Reilly Factor" with Tucker Carlson at 8 p.m.
21st Century Fox said Wednesday that the company and Mr. O'Reilly agreed he wouldn't return to the cable news network "after a thorough and careful review of the allegations."
The Financial Times had earlier reported the value of Mr. O'Reilly's payout.
Mr. O'Reilly isn't the first person at Fox News to be swept out amid a sexual-harassment scandal. Last July, Fox News Chairman and Chief Executive Roger Ailes resigned after he was accused of sexual harassment by multiple women, claims that he denied. He walked with an exit package worth more than $40 million, a person familiar with the matter said at the time.
21st Century Fox and News Corp, parent company of The Wall Street Journal, share common ownership.
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(END) Dow Jones Newswires
April 20, 2017 14:06 ET (18:06 GMT)