Fox News is reportedly parting ways according to multiple media outlets. O’Reilly has been in the press lately over allegations of sexual harassment and even an alleged racial comment to one of the women.

Via NYMag:

Wednesday morning, according to sources, executives are holding emergency meetings to discuss how they can sever the relationship with the country’s highest-rated cable-news host without causing collateral damage to the network. The board of Fox News’ parent company, 21st Century Fox, is scheduled to meet on Thursday to discuss the matter.

Sources briefed on the discussions say O’Reilly’s exit negotiations are moving quickly. Right now, a key issue on the table is whether he would be allowed to say good-bye to his audience, perhaps the most loyal in all of cable (O’Reilly’s ratings have ticked up during the sexual-harassment allegations). Fox executives are leaning against allowing him to have a sign-off, sources say. The other main issue on the table is money. O’Reilly recently signed a new multiyear contract worth more than $20 million per year. When Roger Ailes left Fox News last summer, the Murdochs paid out $40 million, the remainder of his contract.

More from Mediaite:

Fox News has reportedly decided to part ways with Bill O’Reilly. The news was reported by Gabriel Sherman in New York Magazine on Wednesday.

If confirmed, the top-rated cable news host’s departure will leave an enormous hole not just in the Fox News lineup, but in the entire cable news landscape. The former CBS News reporter and host of Inside Edition is truly the progenitor of the “opiniotainment” host that we now see as the standard.

since a New York Times report came out that revealed $13 million Fox news spent settling multiple accusations of sexual harassment against O’Reilly, he has been in a swirl of controversy. The report led to a swift and successful advertiser boycott that included dozens of national advertisers, a suddenly announced vacation, and now, the end of Mr. O’Reilly’s career on Fox News.

Given his continued ratings dominance, this had to have been an extremely difficult decision for the Murdoch family, who are owners of Fox News’ parent company, 21st Century Fox. Previously, Sherman reported that Rupert Murdoch was inclined to keep O’Reilly on simply to defy the NY Times report. But an alleged corporate culture that enables harassment is a difficult thing to ignore, especially coming so close on the heels of Roger Ailes’ departure from the network under similar allegations that continue to grow.

The left has went after Fox News hard this year. First Roger Ailes, now Bill O’Reilly. Fox is the only network that will report the news fairly. That can’t be allowed.