Bill O'Reilly's fate may hang in the balance

Bill O'Reilly, host of FOX's 'The O'Reilly Factor' at FOX Studios in New York.
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Bill O'Reilly's fate at Fox may be in jeopardy according to a multiple reports.

A report from New York Magazine, citing three sources, said the Murdoch family may be considering keeping O'Reilly off the air. The magazine's sources said that patriarch Rupert Murdoch is for keeping O'Reilly, while his sons James and Lachlan are advocating for his removal.

The Wall Street Journal — which falls under the umbrella of News Corporation, which has Rupert and Lachlan as executive chairman and co-chairman, respectively — subsequently reported that Fox was "preparing to cut ties" with O'Reilly. The television network is a unit of 21st Century Fox, which is a separate company, but counts Rupert and Lachlan as its executive chairmen and James as its CEO.

A Fox representative declined to provide comment to CNBC.

The TV anchor has recently become embroiled in controversy after it came to light that around $13 million was paid to settle claims of sexual harassment against O'Reilly.

Rupert Murdoch reportedly doesn't want to ax O'Reilly for fear that it would look as if he were obligated to do so by The New York Times, which first reported the story, according to one source cited by New York Magazine.

Read the full report at New York Magazine.

Watch: What's at stake for Fox over O'Reilly claims

What's at stake for Fox over O'Reilly claims