Sexual harassment has cost Fox News over $85 million

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Twenty-First Century Fox Inc has parted ways with star cable news host Bill O'Reilly following allegations of sexual harassment, the company said on Wednesday.

His removal came after The New York Times reported that O'Reilly and Fox settled five cases of sexual harassment allegations for about $13 million.

The O'Reilly Factor host was set to return on Monday, but Fox chose to end his era before that happened, much to the delight of those who wanted Fox News to fire O'Reilly over his many years of allegedly predatory behavior toward women.

Bill O'Reilly will receive a maximum of one year's salary following his ousting from Fox News, a source familiar with the situation says.

"As a strong woman", she added, "I say we should feel more empowered than that and take a stand and get out of the place and blow the whistle on the perpetrator doing the bad stuff so that the culture will change". According to ad-tracking firm Kantar Media, it brought in $147.13 million in advertising revenue in 2016.

O'Reilly - who has denied the claims - has been off the air since last week, when he announced he would be taking a vacation.

Thursday night, more than 24 hours after O'Reilly's firing, Colbert was "still reeling from the loss", he said before dancing on camera.

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After the news of O'Reilly's ouster came down, Walsh's attorney, Lisa Bloom, tweeted: "We slayed the dragon". The network has protected its marquee host for a long time, she said, through past allegations and other controversies.

UPDATE 2:45 P.M.: This post was updated to reflect the New York Times reporting on O'Reilly's buyout.

Believing that "I don't think Bill did anything wrong", Trump told the paper O'Reilly shouldn't have agreed to settle previous harassment claims lodged against him.

The network quickly replaced O'Reilly with Tucker Carlson, who moved into the 8 p.m. time slot.

Fox News executives paid the former CEO $40 million after he stepped down from his position in July amid accusations that he repeatedly sexually harassed female employees over his 20-year tenure.

Shares were up 63 cents, or 2.1 percent, to $30.44 in Thursday afternoon trading.

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