It’s Official. Bill O’Reilly Is Out at Fox News.

Bye, Bill.

Charles Sykes/AP

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Fox News announced it is parting ways with its embattled host Bill O’Reilly.

“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,” a statement from 21st Century Fox, Fox News’ parent company, read.

The decision Wednesday follows an explosive New York Times investigation earlier this month that revealed O’Reilly and Fox News paid nearly $13 million to settle multiple sexual harassment allegations during his career at the cable news network. The report drove more than 50 companies to pull advertising from “The O’Reilly Factor”—the top-rated show in its primetime slot. Protests outside Fox News’ headquarters in Manhattan are also said to have been a factor in the decision to sever ties with O’Reilly.

“By ratings standards, Bill O’Reilly is one of the most accomplished TV personalities in the history of cable news,” the statement on Wednesday continued. “In fact, his success by any measure is indisputable. Fox News has demonstrated again and again the strength of its talent bench. We have full confidence that the network will continue to be a powerhouse in cable news.”

According to New York’s Gabriel Sherman, who has written extensively about Fox News, the decision to cut ties with O’Reilly also stemmed from the Murdoch family’s desire to take over European broadcaster Sky. With Ofcom, the independent British media regulator, reportedly examining whether the company was “fit and proper” enough to own Sky, the O’Reilly scandal is said to have been seen as an obstacle in convincing regulation officials about the ethical standards of 21st Century Fox.

As cable news’ top-rated host, O’Reilly wielded an incredible level of clout during his tenure at Fox News, with his views widely regarded as influential in making or breaking conservative candidates. The company stood by him during previous controversies, many of which included charges of sexual harassment and making racially insensitive remarks.

Despite the renewed focus on the sexual harassment allegations this month, O’Reilly’s ratings actually increased.

Mother Jones previously reported on O’Reilly’s questionable account of his own reporting during the Falklands war. Evidence showed he repeatedly embellished his wartime correspondence record to give the appearance he had experienced combat. Later in his career, O’Reilly would invoke this dramatic, and apparently flawed, narrative to assert his authority on the subject of war.

This is a breaking news story. We will update when more information becomes available.

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WE'LL BE BLUNT.

We have a considerable $390,000 gap in our online fundraising budget that we have to close by June 30. There is no wiggle room, we've already cut everything we can, and we urgently need more readers to pitch in—especially from this specific blurb you're reading right now.

We'll also be quite transparent and level-headed with you about this.

In "News Never Pays," our fearless CEO, Monika Bauerlein, connects the dots on several concerning media trends that, taken together, expose the fallacy behind the tragic state of journalism right now: That the marketplace will take care of providing the free and independent press citizens in a democracy need, and the Next New Thing to invest millions in will fix the problem. Bottom line: Journalism that serves the people needs the support of the people. That's the Next New Thing.

And it's what MoJo and our community of readers have been doing for 47 years now.

But staying afloat is harder than ever.

In "This Is Not a Crisis. It's The New Normal," we explain, as matter-of-factly as we can, what exactly our finances look like, why this moment is particularly urgent, and how we can best communicate that without screaming OMG PLEASE HELP over and over. We also touch on our history and how our nonprofit model makes Mother Jones different than most of the news out there: Letting us go deep, focus on underreported beats, and bring unique perspectives to the day's news.

You're here for reporting like that, not fundraising, but one cannot exist without the other, and it's vitally important that we hit our intimidating $390,000 number in online donations by June 30.

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