Rumors that Roger Ailes was asked to vacate his position as Chairman and Chief Executive of Fox News were confirmed today when Ailes officially resigned.

The New York Times reports:

Roger Ailes stepped down on Thursday as chairman and chief executive of Fox News, ending a 20-year reign as head of the cable network he built into a ratings juggernaut and an influential platform for Republican politics.

Rupert Murdoch, the 85-year-old media mogul who started Fox News with Mr. Ailes, will assume the role of chairman and chief executive of Fox News channel and Fox Business Network.

In a statement, Mr. Murdoch praised Mr. Ailes, 76, and his “remarkable contribution” to the company, without making mention of the sexual harassment scandal that felled him.

“Roger shared my vision of a great and independent television organization and executed it brilliantly over 20 great years,” Mr. Murdoch said. “Fox News has given voice to those who were ignored by the traditional networks and has been one of the great commercial success stories of modern media.”

Rupert Murdoch’s sons, James and Lachlan, likewise praised Mr. Ailes before adding that they were committed to “to maintaining a work environment based on trust and respect.”

Ailes’ resignation letter:

Timing is not ideal:

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