Updated at 6:15 p.m. ET
Fox News is parting ways with Bill O'Reilly, who for years stood as one of cable news' most popular hosts. The network's parent company, 21st Century Fox, announced the move in a statement Wednesday.
"After a thorough and careful review of the allegations, the Company and Bill O'Reilly have agreed that Bill O'Reilly will not be returning to the Fox News Channel," the statement read.