Bill O'Reilly will receive a payout of up to $25 million in his sudden departure from Fox News, according to a report.

O'Reilly, who was ousted Wednesday amid a swirling sexual harassment controversy, had recently signed a new contract with Fox, and the $25 million represents one year's worth of that salary, according to the New York Times.

The Times based its report on two anonymous sources.

Last year, Roger Ailes was ousted as the long-time CEO of Fox under similar circumstances and he, too, reportedly received a payout of around $40 million.

The announcement from Fox that O'Reilly was leaving the channel came after hours of intense social- and other media speculation that he was finally on his way out. The controversy was first triggered by a New York Times article earlier this month that revealed Fox and O'Reilly had settled multiple sexual harassment claims with a number of women, totaling in the millions of dollars.

"After a thorough and careful review of allegations against him, the Company and Bill O'Reilly have agreed that Mr. O'Reilly will not return to the Fox News Channel," 21st Century Fox said in a statement Wednesday.

O'Reilly has been on vacation in Italy, where he met Pope Francis.

He released a statement Wednesday praising Fox and further said that it was "tremendously disheartening" to be leaving "due to completely unfounded claims" in his sexual harassment scandal.