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Bill O’Reilly, the Fox News star who was fired this week amid a burgeoning sexual harassment scandal, will receive a payout of $25m, equivalent to one year’s salary, as part of his exit settlement with 21st Century Fox, according to a person with knowledge of his contract.

The payout, following the presenter’s dismissal from Fox News this week after a 22-year career with the network, is less than the $40m Roger Ailes, the network’s former chairman, received when he was fired in similar circumstances last year.

It comes months after Mr O’Reilly agreed to a new four-year contract worth $25m a year. “The amended contract provides for Bill to receive a maximum of one year’s salary,” said a person with knowledge of the terms.

Copyright The Financial Times Limited 2017. All rights reserved.

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