With Bill O’Reilly officially ousted by Fox News, there was speculation whether the former Fox anchorman would receive a lump sum payout as a parting settlement considering that O’Reilly signed a new 4-year contract just before being ousted. It has now been confirmed by FT and CNN that indeed, O’Reilly will get a payout of $25 million, equivalent to one year’s salary, as part of his exit settlement with 21st Century Fox.
“The amended contract provides for Bill to receive a maximum of one year’s salary,” said a person with knowledge of the terms quoted by the FT.
O’Reilly’s payout, following the presenter’s dismissal from Fox News this week after a 22-year career with the network, is less than the $40m Roger Ailes, the network’s former chairman, received when he was fired in similar circumstances last year.
At an event in New York on Wednesday night, James Murdoch, the company’s CEO, was asked by a New York Times reporter about the abrupt exit.
Murdoch said “we did a thorough investigation, a thorough review, and we reached a conclusion. Everything that we said in our statement is all you need to know.”
O’Reilly issued a statement that reaffirmed his innocence, saying “it is tremendously disheartening that we part ways due to completely unfounded claims. But that is the unfortunate reality many of us in the public eye must live with today.”
Via Zero Hedge