The cost of replacing O'Reilly: Who will step in as the new face of Fox?
Fox News hasn't been having a good year. With the controversial resignation of former CEO and Chairman Roger Ailes last July and sudden departure of lead news anchor Megyn Kelly for NBC in January, the $2 billion conservative news network has faced one PR blunder after the next. Now, Fox's top earner Bill O'Reilly will be departing over multiple allegations of sexual harassment.
The network has already spent $13 million in settlements to keep the allegations hushed, according to the New York Times, but Fox could stand to lose a whole lot more over O'Reilly's exit. It's unclear as of yet how much O'Reilly will walk away with, but according to a statement issued Wednesday by 21st Century Fox, "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."
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This article originally appeared on GOBankingRates.com: The Cost of Replacing O'Reilly: Who Will Step in as the New Face of Fox?