Fox News' parent company 21st Century Fox is cutting ties with host Bill O'Reilly over the fallout from sexual harassment allegations. The company released a statement today confirming that O'Reilly will not be returning to the network.  

The move came after reports that the network and O'Reilly paid millions of dollars to settle sexual harassment allegations.  The company says it made a "thorough and careful review of the allegations" before deciding to part ways with O'Reilly.  He hosted "The O'Reilly Factor" and had been at Fox News since 1996.