Fox News Channel is said to be rewarding Bill O’Reilly with a severance package worth as much as $25 million after pulling the plug on “The O’Reilly Factor” amid a sexual harassment scandal.
The Washington Post reports that the severance figure was “set by the contract he signed only last month, a source close to the negotiations confirmed to The Post. He just last month reupped at the network with a three-year contract whose terms reportedly awarded him a year’s salary in severance.”
The report notes that neither Fox News nor O’Reilly’s reps have officially disclosed the amount of O’Reilly’s severance, adding: “The contract’s play-or-pay terms made his booting relatively simple, if financially painful, for the Murdochs.”
The Post report adds: “For his part, the characteristically loquacious O’Reilly went relatively quietly. He issued a statement on Wednesday saying, in part, ‘It is tremendously disheartening that we part ways due to completely unfounded claims.’ He hasn’t said anything further about his future.”