"The O'Reilly Factor" had lost about a dozen advertisers by Tuesday, with German carmaker BMW, Japan's Mitsubishi and US-based insurance company Allstate pulling their ads from the show.
Hyundai representatives said it did not want to partner with a company which didn't respect values of inclusion and diversity.
"In light of the disturbing allegations, we instructed our media buyer this morning to reallocate our ad dollars to other shows effective immediately", Untuckit Chief Executive Aaron Sanandres said in an email.
O'Reilly's nightly news show has consistently been Fox News's biggest ratings driver, pulling in nearly 4 million viewers a night.
Hyundai, BMW of North America, Untuckit, Constant Contact, Ainsworth Pet Nutrition, GSK pharmaceuticals, Allstate and Sanofi consumer healthcare have said they are pulling their commercials from "The O'Reilly Factor", NBC News and The New York Times reported Tuesday.
Losing advertisers, let's remember, contributed to Glenn Beck's downfall at Fox News in 2011. "In effect, they are paying for The O'Reilly Factor to stay on the air, and paying to settle the lawsuits against him", explained Nicole Carty, campaigner at SumOfUs.
"At this time, the ad buys of those clients have been re-expressed into other FNC programs".
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This is not the first time Fox News has faced allegations of men using power and influence to elicit sex.
O'Reilly said in a post on his website that he's been unfairly targeted because of his prominence.
He said that the "worst part" of his job was "being a target for those who would harm me and my employer", and his "primary efforts will continue to be to put forth an honest TV program and to protect those close to me".
Some of those past payments by Fox News to women are being investigated by federal prosecutors to see if they were structured to avoid disclosing them to investors in 21st Century Fox, as first disclosed by a lawyer to suspended Fox News host Andrea Tantaros, who is now suing Ailes and the network. O'Reilly has always taken the sides of racists and misogynists in the news and promoted schools of thought that undermine the value of women, LGBTQ people, and people of color. The firm said that the show brought in some $126 million in revenue in 2015.
Walsh told NPR that just three weeks in, she received a call from an O'Reilly producer saying he wanted to arrange a dinner during an upcoming trip in Los Angeles.
Given that O'Reilly's program has spent 14 straight years as the No. 1 program in cable news, we recommend the CNN reporter assigned to the story not hold his or her breath while waiting to hear back from those advertisers as to the results of their investigation into the "matter".