Fox News condoned, and even supported, O'Reilly's heinous misconduct for years-along with former chairman Roger Ailes and, reportedly, other Fox News executives.
With another woman coming forward on Tuesday to accuse Mr O'Reilly of harassment, an attorney for the TV host dismissed those allegations as "an orchestrated campaign by activists and lawyers to destroy Mr O'Reilly".
Activist groups such as the National Organisation for Women have been bringing pressure to bear for weeks on the firm to fire O'Reilly in a case that NOW said became emblematic of the "culture of sexual harassment at Fox News" and requires an "immediate independent investigation".
But after the New York Times report, advertisers including BMW of North America, Allstate Corp, French pharmaceuticals maker Sanofi SA and T. Rowe Price, pulled their advertising from O'Reilly's primetime "The O'Reilly Factor" show.
O'Reilly wants to return to say goodbye to his loyal audience, according to NY, but it's not clear if that will happen.
While O'Reilly's future at the network is likely to be determined by business calculations, sources said that his failure to establish relationships has made him more vulnerable as Murdoch and his sons debate the host's future at the network.More news: Florida state senator apologizes for racial slur
The New York Times reported April 1 that five women had been paid a total of $13 million to keep quiet about unpleasant encounters with O'Reilly, who has denied any wrongdoing. According to Variety, the number of national ads on O'Reilly's show dropped from an average of 33 in the month prior to the Times report to just seven on Friday, April 7. The channel's majority owner is Fox News Channel parent company 21st Century Fox.
By ratings standards, Bill O'Reilly is one of the most accomplished TV personalities in the history of cable news.
In a letter to employees obtained by CNN, 21st Century Fox patriarch Rupert Murdoch said the decision "follows an extensive review done in collaboration with outside counsel". Eastern time slot. "The O'Reilly Factor" will continue to air for the remainder of the week with guest hosts. Shares of Twenty-First Century Fox were down less than 1 percent at $30.50 in Wednesday afternoon trading.
"I understand how hard this has been for many of you".
"Getting rid of the old guard is a way to do that", said Dan Cassino, a professor at Fairleigh Dickinson University and the author of "Fox News & American Politics: How One Channel Shapes American Politics & Society".
O'Reilly said he would look back on his time at Fox "with great pride in the unprecedented success" achieved and with "deepest gratitude" to his "dedicated viewers".