New York - Bill O'Reilly To Receive Maximum Of One Year Salary
New York - Bill O’Reilly will receive a maximum of one year’s salary following his ouster Thursday from Fox News, according to a source familiar with the situation.
Fox News parent Twenty First Century Fox Inc> announced Thursday it had parted ways with the star cable news host, ending his more than 20-year career, following allegations of harassment from a number of women.
The source declined to comment on O’Reilly’s annual salary, but CNN reported on Thursday that the host’s new contract provided about $25 million a year.
Shares of Fox News’ parent company, 21st Century Fox, held steady in midday trading Thursday following the firing of longtime and top-rated segment host Bill O’Reilly.
Shares were up 30 cents to $30.69 shortly after the market opened. The stock fell 1 percent to close at $29.81 on Wednesday. It is down more than 3 percent since an April 1 report in The New York Times that five women had been paid a total of $13 million to keep quiet about disturbing encounters with O’Reilly.
O’Reilly show, “The O’Reilly Factor,” gained some of the highest ratings in cable news and was a key advertising revenue generator for Fox.
21st Century Fox’s other holdings include 20th Century Fox, Fox Searchlight Pictures, FX Networks, and National Geographic Channel.
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