Greta Van Susteren out at Fox News

Greta Van Susteren is set to depart Fox News after 14 years with senior political analyst Brit Hume taking over as host of her program On the Record through the election.

The announcement came Monday morning from Jack Abernethy and Bill Shine, who were recently elevated to co-presidents of the network in the wake of the departure of Roger Ailes amid sexual harassment allegations. No reason was cited for Van Susteren's departure, but a source close to the situation tells THR it came down to a "financial disagreement." Van Susteren was known to have a key man clause in her contract that allowed her to depart in the event Ailes did. Other Fox News personalities with such a clause include Bill O'Reilly, who anchors the network's top-rated show, and Sean Hannity.

Van Susteren was also among those Fox News employees who spoke out early in defense of Ailes, before leaks from an internal investigation spurred by ousted anchor Gretchen Carlson began to uncover allegations from multiple additional women. Ailes through his attorney has denied the allegations.

See photos of Greta Van Susteren through the years:

The press release announcing Van Susteren's departure offers a brief thank you from Abernethy and Shine: "We are grateful for Greta's many contributions over the years and wish her continued success."

And includes words of praise for Hume: "As one of the best political analysts in the industry, Brit is the ideal choice to host a nightly political program while the most dynamic and captivating election in recent history unfolds. Having Brit at the helm of this show will enable Fox News to continue on track to have its highest-rated year ever as the network dominates the cable news landscape."

Hume added: "I am happy to take on this assignment for the balance of this extraordinary election. My Fox News colleagues have set a high standard for political coverage which I'll do my best to uphold. I'm honored to be asked."

UPDATE: Greta Van Susteren confirmed her departure in a Facebook post on Tuesday afternoon, writing that "Fox has not felt like home to me for a few years." Read the full post below:

Fox News settled its case with Gretchen Carlson for $20 million on Tuesday: