You didn’t actually expect Bill O’Reilly to be pushed out of Fox News without a golden parachute, did you?
The veteran anchor officially departed from the cable news network earlier this week, after advertisers abandoned The O’Reilly Factor over his sexual harassment scandals.
The network spent several million dollars to buy the silence of O’Reilly’s accusers — but apparently, that money could have been better spent on paying the political pundit’s astounding exit fee!
Multiple sources confirmed to CNNMoney that O’Reilly signed a new contract, worth about $25 million per year, right before being overthrown.
And while the controversial commentator won’t be paid the full amount of what he was owed, he’ll still walk away with “a staggering amount.”
It’s unknown exactly how much money the disgraced anchor received, as a confidentiality agreement limits what 21st Century Fox and O’Reilly’s team can say about the payout.
The sources claimed the contract extended through the next presidential election, until the end of 2020 or the start of 2021, but also incorporated language that gave Fox some “outs.”
The new deal was reportedly signed in March, just weeks before The New York Times‘ explosive investigation into the anchor was published on April 1.
Chairman of Fox News Channel Rupert Murdoch was aware the Times report was about to come out, which is why “outs” were added to the contract.
While O’Reilly, the undisputed ratings king of cable news, will still depart with a pretty penny, his payout is nothing compared to former CEO Roger Ailes — who walked away with $40 million after his harassment scandal by Fox employees.
As for how the shakeup was handled on air, network host Dana Perino explained to viewers of The O’Reilly Factor — now simply “The Factor” — why their beloved hothead would not be returning to the network on Wednesday night.
Perino was forced to praise the alleged serial harasser in a tribute of sorts, which marked “the end of an era here at the Fox News Channel.”
That’s for damn sure! See what the host said about O’Reilly’s abrupt exit (below)!
[Image via Fox News.]