Details of Roger Ailes' $40 Million Deal to Exit Fox News

Roger Ailes won’t leave Fox News empty-handed. The former chairman and CEO will walk away with a healthy severance package following his resignation on Thursday.

Ailes will receive about $40 million from the cable news network as part of the settlement agreement surrounding his departure, approximately the amount remaining on his current contract, which was due to expire in 2018, according to media reports.

The agreement also prevents Ailes from starting a Fox News competitor, and requires him to stay on as an adviser to Rupert Murdoch, who will take over as interim chairman and CEO for the time being.

Also Read: Donald Trump In, Roger Ailes Out in Historic GOP Reshuffle

The official announcement that Ailes would be stepping down from his position came on Thursday, after days of speculation.

The man credited with founding one of the most profitable cable networks in history exits in disgrace amid a lawsuit filed on July 6 by former “Real Story” host Gretchen Carlson, who accused her erstwhile boss of sexual harassment. 21st Century Fox swiftly opened an investigation into the claims that remains ongoing, one whose findings have not yet been disclosed.

“Roger Ailes has made a remarkable contribution to our company and our country. Roger shared my vision of a great and independent television organization and executed it brilliantly over 20 great years,” Murdoch said in a statement.

Also Read: Roger Ailes Out at Fox News Channel

Ailes is credited with bringing opinion back to news coverage, starting with America’s Talking, an NBC-owned network that eventually became MSNBC. Ailes has also produced Broadway plays, served as president of CNBC and hosted a short-lived talk show during his career.

Ailes was named the founding CEO of Fox News in 1996 and the network quickly gained popularity while he called the shots. Fox News is now regularly among the most-watched networks in all of cable and dominates the cable news category.

The Evolution of Roger Ailes, From 'The Mike Douglas Show' to Fox News Innovator (Photos)

The television executive has evolved from producing a talk-variety show to running one of the biggest satellite news television channel in the U.S.
Fox News
Born and raised in Ohio, Roger Ailes attended Ohio University as a young man, majoring in radio and television. During his time there, he served as station manager for the university's WOUB radio for two years.
Ohio University
Ailes worked his way up to executive producer on the syndicated daytime talk show "The Mike Douglas Show," which began as a local program in Cleveland before expanding nationwide.
Westinghouse Broadcasting Company
In 1968, Ailes got an Emmy nod when "The Mike Douglas Show" was nominated for Outstanding Achievement in Daytime Programming, ultimately losing to NBC's "Today" show.
After first meeting Richard Nixon on the set of "The Mike Douglas Show," Ailes was hired by the then-presidential candidate to be his media advisor during the campaign, which marked his first professional foray into politics.
Ailes continued consulting on presidential campaigns, serving as media consultant for three successful Republicans: Nixon, Ronald Reagan and George H.W. Bush.
Ailes produced the famous "revolving door" ad for Bush, which painted Democratic nominee Michael Dukakis as soft on crime. The piece was widely regarded as the most influential ad of the political cycle.
In 1988, Ailes co-authored a self-help book with Jon Kraushar. "You Are the Message" shared Ailes' tips for effective communication and public performances.
Simon and Schuster
In 1992, Ailes served as executive producer on a syndicated late-night talk show hosted by right-wing radio host Rush Limbaugh, which ran for four years before coming to an end in 1996.
Ailes Productions
Ailes was named president of CNBC in 1993, where he launched the new cable network America's Talking, which was shut down and replaced with future Fox News competitor MSNBC.
America's Talking
Media mogul Rupert Murdoch hired Ailes to serve as founding CEO and Chariman of the Fox News Channel in 1996, which soon grew to become the most popular cable news network in the country.
Getty Images
In 2016, Ailes was accused of sexual harassment by ousted Fox News host Gretchen Carlson. In July, Carlson filed a lawsuit against Ailes, claiming years of inappropriate behavior and sexual advances.
Getty Images
On July 20, 2016, Ailes was forced to resign from Fox News amid the growing outcry over the sexual harassment allegations.
Getty Images
Ailes died on May 18, 2017 at age 77.