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When most of us get canned, we’re told, “Here’s like 9 days pay and a mousepad. Have fun leaching off the working man until you can find a job stocking shelves you worthless parasite.” That’s what your former boss said too, right? Right? Shit, I thought that was standard corporate talk. Fuck.
Anyway, Bill O’Reilly’s departure from Fox went a bit differently, at least from a monetary standpoint, and from a standpoint that I didn’t have any sexual harassment allegations against me. The top-rated host in cable news was forced out of his position of 21 years after an article by The New York Times revealed how Fox News repeatedly backed O’Reilly even after the company reached settlements with 5 different women who alleged sexual harassment. The settlements totaled $13 million.
But $13 million is nothing compared to payout the 67-year-old will receive from Fox as a parting gift.
“It is a staggering amount,” said a source personally involved in the exit maneuverings, reports CNN.
Two well-placed sources confirmed to CNNMoney that O’Reilly does have a golden parachute that will reach tens of millions of dollars. The parachute was written up in the new contract O’Reilly signed right before he was ousted, a contract that saw O’Reilly being paid a staggering $25 million per year. CNN reports that his contract was expected to endure through the next presidential election (2020 or 2021).
O’Reilly won’t be getting a full buyout of the contract, as the network allotted itself some “outs,” but when you consider that Roger Ailes, the founding CEO of Fox News, received all of the remaining $40 million on his contract after he was ousted for sexual harassment last summer, it’s likely that Bill will receive a large chunk of that contract pie.
Fox News will insert Tucker Carlson into the 8 pm weeknight slot. Huge cash cow for him.
[h/t CNN]