"By ratings standards, Bill O'Reilly is one of the most accomplished TV personalities in the history of cable news", Murdoch wrote in the memo obtained by The Hill.

Bill O'Reilly called the claims that resulted in his departure from Fox News "unfounded" and wished the network the best in a statement released Wednesday afternoon. In recent weeks, O'Reilly had come under fire for multiple sexual-harassment complaints.

TheBlaze founder (and former Fox News host) weighed in on the sexual harassment allegations against O'Reilly, saying that the The O'Reilly Factor host was likely in his final 24 hours at Fox News.

O'Reilly was the host of "The O'Reilly Factor", last year's most-watched cable news program. The Murdochs have not yet announced a decision regarding O'Reilly's future, but one well-placed source told CNNMoney on Tuesday that representatives for Fox and O'Reilly are discussing the possibility of an exit, and the Murdoch-owned Wall Street Journal has reported that they are preparing to cut ties.

O'Reilly's departure is the second major blow for the right-leaning news network in nine months.

O'Reilly's downfall began with an April 2 New York Times story that reported five women were paid a staggering $13 million to not talk about their lurid encounters with the host.

Fox News is cutting Bill O'Reilly loose, sources tell NY magazine, following a newspaper report that detailed multiple accusations of sexual harassment by him.

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Vice President Mike Pence visited South Korea this week to ensure the country that it has the United States' support. Their outfits looked so similar to those of the South Korean special forces that it was hard to distinguish them.

Representatives at Fox News and its parent Twenty-First Century Fox Inc were not immediately available for comment.

Viewers of Fox News are taking to social media to express outrage over the announced ouster of their most popular host.

With a profit center gone, 21st Century Fox stock fell nearly 1 percent Wednesday in heavy trading.

The statement from 21st Century Fox said the decision to part ways came after "an extensive review done in collaboration with outside counsel".

Author Stephen King tweeted: "New book by Fox News: Killing Bill O'Reilly".

Twenty-First Century Fox had tapped the law firm Paul, Weiss Rifkind, Wharton & Garrison, which also looked into the allegations against Ailes, to investigate O'Reilly's conduct. "I am very proud to have stood with my fearless clients who stood up for themselves and all the silenced women".

For American conservatives who reject the RINO establishment, O'Reilly will not be missed. According to the Times, the show had lost half of it's advertisers in just a week after the news broke.