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Bill O'Reilly Is Officially Out At Fox News

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One of the most-prominent news anchors in the world is out.

Fox News has officially announced the parting of ways with Bill O'Reilly.

Here's the official statement:

“After a thorough and careful review of the allegations, the Company and Bill O’Reilly have agreed that Bill O’Reilly will not be returning to the Fox News Channel,” 21st Century Fox said in a statement.

This brings to an end O'Reilly's 21-year-run at Fox News.

Here are some details on the exit, from New York Magazine:

Wednesday morning, according to sources, executives are holding emergency meetings to discuss how they can sever the relationship with the country’s highest-rated cable-news host without causing collateral damage to the network. The board of Fox News’ parent company, 21st Century Fox, is scheduled to meet on Thursday to discuss the matter.

Sources briefed on the discussions say O’Reilly’s exit negotiations are moving quickly. Right now, a key issue on the table is whether he would be allowed to say good-bye to his audience, perhaps the most loyal in all of cable (O’Reilly’s ratings have ticked up during the sexual-harassment allegations). Fox executives are leaning against allowing him to have a sign-off, sources say. The other main issue on the table is money. O’Reilly recently signed a new multiyear contract worth more than $20 million per year. When Roger Ailes left Fox News last summer, the Murdochs paid out $40 million, the remainder of his contract.

O'Reilly is one of the highest-paid media personalities in the world, reportedly getting $20 million a year.