Roger Ailes, conservative media titan, is out at Fox News

Roger Ailes has stepped down as CEO and Chairman of Fox News.

Ailes has been under fire in the past couple weeks after former anchor Gretchen Carlson filed a sexual harassment lawsuit against him, an accusation that was reportedly echoed by other women who also came forward during an investigation into Carlson's claims.

The timing of the departure is particularly notable, coming on the same day that Donald Trump is set to accept the Republican Party's nomination to run for president. Trump had built much of his conservative following through his Fox News appearances, and even went as far as to recently publicly defend Ailes.

The decision to relieve Ailes of his role at Fox News had been reported days earlier, with follow up stories noting that he and executives at 21st Century Fox, the parent company of Fox News, were negotiating how he would leave the company.

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The controversy may have cost Ailes his job, but he may not be the only one who is paying. A previously leaked document showed that Ailes was in line for a $40 million severance fee.

Rupert Murdoch, executive chairman of 21st Century Fox, said in a press release: "Roger Ailes has made a remarkable contribution to our company and our country.  Roger shared my vision of a great and independent television organization and executed it brilliantly over 20 great years."

It is not clear who will permanently replace Ailes, but for now, the roles will be filled by Rupert Murdoch, the media mogul who leads 21st Century Fox and News Corp.

Lachlan Murdoch and James Murdoch, the sons of Rupert Murdoch who also hold high positions at 21st Century Fox, said in the release: "We join our father in recognizing Roger’s remarkable contributions to our company.  Our talented Fox News and Fox Business colleagues, up and down the organization and on both sides of the camera, have built something that continues to redefine the cable news experience for millions of viewers."

The statement continued, seeming to make a slight allusion to the accusations Ailes had faced.

"We are enormously proud of their accomplishments. For them, as well as for our colleagues across our entire organization, we continue our commitment to maintaining a work environment based on trust and respect.  We take seriously our responsibility to uphold these traditional, long-standing values of our company," the Murdoch brothers said.

The prospect of Fox News with Ailes was almost impossible fathom even just a few weeks ago. Ailes helped found Fox News in 1996, growing the company into a dominant media brand, particularly among conservative Americans. With the growth of the channel, Ailes become a powerful figure in media and in the Republican Party.

Ailes reportedly penned a letter to Rupert Murdoch that was also leaked to the Drudge Report, absolving himself of the claims of harassment.

"I take particular pride in the role that I have played advancing the careers of the many women I have promoted to executive and on-air positions," Ailes wrote. "Many of these talented journalists have deservedly become household names known for their intelligence and strength, whether reporting the news, fair and balanced, and offering exciting opinions on our opinion programs. Fox News has become Number 1 in all of cable because I consistently identified and promoted the most talented men and women in television, and they performed at the highest levels."

As for whether Ailes will move on to a new job, there was already jokes -- and some legitimate speculation -- that he might join with Trump.

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