UPDATE: Bill O'Reilly responds to news that he will no longer be - WDRB 41 Louisville News

UPDATE: Bill O'Reilly responds to news that he will no longer be appearing on the Fox News Channel

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(Image Courtesy: CNN) (Image Courtesy: CNN)

LOUISVILLE, KY. (WDRB) -- Bill O'Reilly is speaking out after an announcement Wednesday afternoon that he will no longer be appearing on the Fox News Channel.

21st Century Fox released the following statement on Wednesday:

"After a thorough and careful review of the allegations, the Company and Bill O'Reilly have agreed that Bill O'Reilly will not be returning to the Fox News Channel."

O'Reilly is parting ways with the Fox News Channel after reports five women were paid millions of dollars to stay silent about harassment allegations. He was scheduled to return from a vacation next week. O'Reilly was photographed on Wednesday in Rome shaking Pope Francis' hand.

Late Wednesday afternoon, O'Reilly issued a written statement responding to the announcement:

"Over the past 20 years at Fox News, I have been extremely proud to launch and lead one of the most successful news programs in history, which has consistently informed and entertained millions of Americans and significantly contributed to building Fox into the dominant news network in television. It is tremendously disheartening that we part ways due to completely unfounded claims. But that is the unfortunate reality many of us in the public eye must live with today. I will always look back on my time at Fox with great pride in the unprecedented success we achieved and with my deepest gratitude to all my dedicated viewers. I wish only the best for Fox News Channel."

O'Reilly had appeared on the network for two decades.

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