Fox stock gains ground following O’Reilly firing

Fox stock gains ground following O'Reilly firing | iNFOnews.ca
Posters featuring Bill O'Reilly are displayed at the News Corp. headquarters in Midtown Manhattan, Wednesday, April 19, 2017. O'Reilly has lost his job at Fox News Channel after allegations that he sexually harassed women. (AP Photo/Mary Altaffer)

Shares of Fox News’ parent company, 21st Century Fox, gained ground Thursday following the firing of longtime and top-rated segment host Bill O’Reilly.

The stock finished the day up 68 cents, or 2.2 per cent, to $31.07. It is still down 4 per cent since an April 1 report in The New York Times that five women had been paid a total of $13 million to keep quiet about disturbing encounters with O’Reilly.

O’Reilly was fired Wednesday amid a string of sexual harassment allegations. His show, “The O’Reilly Factor,” gained some of the highest ratings in cable news and was a key advertising revenue generator for Fox.

21st Century Fox’s other holdings include 20th Century Fox, Fox Searchlight Pictures, FX Networks and National Geographic Channel.

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