UPDATE 7/26/16: 21st Century Fox confirmed Thursday that Roger Ailes has resigned from his role "effective immediately." In his place, Rupert Murdoch will take over as both chairman and acting CEO of Fox News and Fox Business Network. "I am personally committed to ensuring that Fox News remains a distinctive, powerful voice," Murdoch said. Read the full statement here. Ailes' resignation letter was allegedly obtained by Drudge Report, in which Ailes said he was "proud" of his "accomplishments."

The lawyer for Gretchen Carlson, who earlier this year accused Ailes of sexual harassment, released the following statement upon Ailes' departure:

Murdoch also sent out a memo to staffers on July 26 acknowledging the "challenging time" for the company as weekly ratings came out. 

"Despite the extraordinary circumstances, we never compromised our dedication to viewers and everyone's professionalism was on display throughout," he wrote. 

See original story below.

Fox News is parting ways with CEO Roger Ailes, the Daily Beast confirmed Tuesday. A network representative told the publication that Ailes "would depart the cable news network" following the sexual harassment allegations from former anchor Gretchen Carlson and others.

Ailes will be given "at least" a $40 million buyout from Fox News, according to the Drudge ReportVariety reports that Ailes was most recently under a contract that would have originally seen him retain his duties through at least 2018, hence the buyout. Representatives for Fox News did not immediately respond to Complex's request for comment, though an official announcement is expected soon.

A representative for 21st Century Fox, the network's parent company, appeared to refute word of Ailes' exit in a statement to the Hollywood Reporter. "Roger is at work," the rep said. "The review is ongoing. And the only agreement that is in place is his existing employment agreement."

Sources told New York Magazine Tuesday that Fox News host Megyn Kelly recently revealed to probe investigators that she had also been the victim of "unwanted sexual advances" from Ailes at the beginning of her career. The harassment, according to sources, was described "in detail" by Kelly.

Earlier this month, Carslon filed a sexual harassment lawsuit against Ailes. According to court documents obtained by the Wrap, Carlson accuses Ailes of firing her from The Real Story With Gretchen Carlson after she refused his advances. Ailes is also accused of suggesting to Carlson that her career would have gone differently had she welcomed the advances, with court documents alleging that Ailes said "I think you and I should have had a sexual relationship a long time ago and then you'd be good and better and I'd be good and better."

This story is developing.