Bill O’Reilly’s sexual harassment scandals and settlements could be costing the network a huge chunk of money ($13 million that we know of) with two major companies have pulled their advertisements from his time slot.
Mercedes Benz and Hyundai, two major advertisers on the network, have announced that they will suspend their advertising during O’Reilly’s show while the scandal continues to gain attention. Via CNN:
“Yes, we had advertising running on The O’Reilly Factor (we run on most major cable news shows) and it has been reassigned in the midst of this controversy,” said Donna Boland, the manager of corporate communications at Mercedes-Benz. “The allegations are disturbing and, given the importance of women in every aspect of our business, we don’t feel this is a good environment in which to advertise our products right now.”
And from BuzzFeed:
[Hyundai] currently has no advertising running on The O’Reilly Factor. We had upcoming advertising spots on the show but are reallocating them due to the recent and disturbing allegations. As a company we seek to partner with companies and programming that share our values of inclusion and diversity. We will continue to monitor and evaluate the situation as we plan future advertising decisions.
CNN has also sent out emails to more than 20 other companies whose brands advertise during O’Reilly’s show, with many saying they are going to look into it, but giving no clear answer at this time.
A recent New York Times story revealed more allegations of sexual harassment had been settled between the network and parties alleging harassment, including allegations that were made after Roger Ailes’ scandal and ouster. It is widely believed that the only reason O’Reilly hasn’t been taken off the air is that he was still making the network money.
However, if major advertisers are walking away and revenue is dropping, then Fox News could be taking a second look at O’Reilly.