Bill O'Reilly: 'O'Reilly Factor' host reportedly leaving Fox News

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Reports are flying that Fox News' parent company has finally given into pressure to oust Bill O'Reilly. 

Sources told the Daily Intelligencer that network executives will formally announce O'Reilly's departure before the O'Reilly Factor host returns from his two-week vacation. Executives are still debating whether the conservative mouthpiece should have the opportunity to say an on-air goodbye to his viewers, but they're "leaning toward" letting O'Reilly say his final piece.

Bill O'Reilly sits at his desk on 'The O'Reilly Factor.'  Richard Drew/AP

The Daily Intelligencer's sources hinted that the Murdoch family — which owns 21st Century Fox and Newscorps — was moving toward the decision to fire O'Reilly on Tuesday, the same day organizers staged a protest outside the Manhattan Fox News headquarters.

Because O'Reilly has a $20-million contract, he'll likely be put out to pasture in much the same way as former Fox News CEO Roger Ailes, whom the Murdochs paid $40 million upon his departure.