It appears the O'Reilly era is over at Fox News.

Sources says that Fox News is parting ways with their star after a 21 year run. "It's gotten to the point where the downside is much bigger than the upside," said one Fox News insider to FTVLive.

Word is now, the two sides are working on an exit strategy for O'Reilly. New York Magazine says that executives are holding emergency meetings to discuss how they can sever the relationship with the country’s highest-rated cable-news host without causing collateral damage to the network.

The problem is, if Fox let's him leave as gracefully as they did Roger Ailes, it sends the wrong message.

Ailes was allowed to "resign" with a letter and walk out with a boatload of cash. It certainly did not send a message to women that the man facing numerous sexual harassment claims was dealt with sternly.

If they let O'Reilly leave on the same note, it does not send the clear message that Fox News is changing their ways when it comes to dealing with harassment in the workplace.

Sources say that Fox News will make some kind of announcement, most likely on Friday (how convenient) that they are parting ways to O'Reilly.

Right now, O'Reilly is staying out of sight, but somewhere, Megyn Kelly has a huge smile on her face.

Stay tuned....