Bill O'Reilly to get payout up to $25 million: Reports He was terminated by Fox News on Wednesday,

 -- Bill O’Reilly could receive a payout as high as $25 million as he exits his role at Fox News, media reports said.

The Financial Times and others reported on Thursday that O’Reilly would receive the sum -- “equivalent to one year’s salary” -- from 21st Century Fox, Fox News’ parent company.

O’Reilly lost his job as host of "The O'Reilly Factor" Wednesday -- while vacationing in Italy -- when 21st Century Fox announced that he would not be returning to his anchor chair on Monday.

The announcement marked a remarkable downfall for cable news’ biggest star, who had been dogged by harassment and sexual misconduct allegations since an April 1 investigation in The New York Times. ABC News has not been able to independently verify these claims.

O'Reilly issued a statement on Wednesday after the news of his departure was announced, saying, "It is tremendously disheartening that we part ways due to completely unfounded claims. But that is the unfortunate reality many of us in the public eye must live with today."