Potential successors like Dana Perino, Eric Bolling and Greg Gutfeld have substituted for O'Reilly since he left for vacation. Shares of Twenty-First Century Fox ended Wednesday's trading on the Nasdaq down less than 1 percent at $30.39 and analysts said the network's viewers would likely remain loyal.
One in three women between the ages of 18 and 34 has been sexually harassed at work.
Meanwhile, Mr. O'Reilly continued sitting comfortably atop cable news' No. 1 rated show, a bloviating hypocrite whose audience can't get enough of his simple-minded moralizing and nostalgia for the white suburban hegemony of the 1950s.
Mr. Ailes was sacked a year ago and given a $40 million golden parachute to go away after a series of sexual harassment lawsuits ended his libidinous reign.
The Wall Street Journal, owned by the same Murdoch family that owns Fox News Channel, reported late Tuesday that Fox executives were "preparing to cut ties" with O'Reilly. The new contract limited any payout to one year's salary rather than the total due for the full term, the person said.
The debacle at Fox News Channel is a stunning reminder that news organizations are businesses, first and foremost.
But RBC Capital Markets analyst Steven Cahall wrote in a report on Wednesday: "An independent law firm had been brought in to investigate the O'Reilly situation, but we think pressure from advertisers has pushed leadership to make a definitive decision earlier in the process". "But that is the unfortunate reality many of us in the public eye must live with today", O'Reilly said in the statement, which was emailed by crisis communications expert Mark Fabiani.
Another former Fox contributor, Kirsten Powers, described on CNN an on-air segment with O'Reilly she found offensive because of the way the host talked about all the "blondes" who worked there.
UPDATE 2:45 P.M.: This post was updated to reflect the New York Times reporting on O'Reilly's buyout.
INSKEEP: Was O'Reilly's show actually losing money because of lost advertisers though?
His show generated $178 million in advertising revenue in 2015, according to Kantar Media. "A new host would presumably have lower ratings, and it's possible this will impact ratings at adjacent programs", says Wieser.
Bill O'Reilly will be paid tens of millions of dollars on his way out of Fox News. Exactly two weeks later, O'Reilly was dismissed. With that ridiculous moral scold gone, Tucker Carlson, his bow-tie-wearing replacement at 8 p.m., will settle into a predictable pattern of nondescript conservative obstructionism.
O'Reilly has denied all claims.
"Over the past 20 years at Fox News, I have been extremely proud to launch and lead one of the loudest "news" programs in history, which has constantly lied to and entertained millions of dads and significantly contributed to building Fox into the dominant "news" network in television".
She said that although women shouldn't have to accept working in an "intimidating workspace", they also owe themselves and society a duty to fight back.