Shares of Fox News’ parent company, 21st Century Fox, are gaining ground following the firing of longtime and top-rated segment host Bill O’Reilly.
Shares were up 63 cents, or 2.1 percent, to $30.44 in Thursday afternoon trading. The stock fell 1 percent to close at $29.81 on Wednesday. It is still down more than 4 percent 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.
Source: Associated Press