“It is a staggering amount,” said a source personally involved in the exit maneuverings.
But two well-placed sources confirmed to CNNMoney that O’Reilly does have a parachute. That’s because O’Reilly signed a new contract right before being ousted.
The two sources, who spoke independently of one another, said the new contract was worth about $25 million per year.
(Previous news reports have pegged O’Reilly’s past contract at $18 to $20 million a year.)
Read More: CNN