In an internal memo, Fox said the decision to remove him was made with outside counsel. "Here's what I don't understand: if white people don't have it good in the United States, then who else does?"
Shares were up 30 cents to $30.69 shortly after the market opened.
"It is tremendously disheartening that we part ways due to completely unfounded claims", he said.
Right from its start, Fox created a top-down, hostile work environment for even its most successful female hosts, including Megyn Kelly, who has decamped to NBC, and Gretchen Carlson, the fearless soul and former anchor who got the ball rolling previous year with her allegations of harassment against Roger Ailes.
O'Reilly's lawyers said he was the victim of an orchestrated campaign by liberal organizations like Media Matters for America, which contacted his advertisers to pressure them to leave the show.
Host Whoopi Goldberg said Burgess "may have been the final nail in the coffin" of O'Reilly's career this week.
Petitions to cancel Turkey vote result rejected
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O'Reilly, 67, had ruled the "no spin zone" on television with a quick smile and an even quicker temper.
"Look, I agree with you", the "Meet the Press" host told Hewitt, a self-described "partisan" who had just said O'Reilly wasn't really a traditional conservative. "Half of the fun that they have with their audiences comes from watching the outrage that they manage to provoke".
While Stephen Colbert's fictional right-wing pundit character, "Stephen Colbert" came to end well over a year ago, the character's inspiration, Bill O'Reilly, was still very much around.
Not only have there been multiple allegations that O'Reilly, who just published another bestselling book, Old School, on good old American values - including treating women respectfully - harassed, intimidated and diminished the women who worked with him.
O'Reilly, denied a chance to say goodbye to his Fox viewers, did so via a statement. O'Reilly also said no woman ever filed a complaint about him with Human Resources or called the company hotline to report harassment.
Finally, the real Colbert returned and joked: "In case you're a fan of sexual harassers who are on TV all the time, we still have Donald Trump". Base-pandering and intellectual dishonesty have been tolerated beyond acceptable levels, and if that's truly the only way for Fox News to pull the kind of numbers that it wants and expects, the network has far worse problems on its hands than figuring out how to adjust with the loss of Bill O'Reilly. "T Rowe Price was listed as one of the ex-O'Reilly sponsors and yet you go the Federal Elections Committee and it reveals they were contributors to a political group called Investment Company Institute Political Action Committee, which, in turn, gave contributions to Hillary Clinton".