Fox News will pay $20million to settle host Gretchen Carlson's lawsuit against disgraced former network president Roger Ailes.
In addition to writing the multi-million-dollar cheque to the former Fox & Friends co-host, the network also issued her a public apology.
A statement released on Tuesday by 21st Century Fox said: 'We sincerely regret and apologize for the fact that Gretchen was not treated with the respect that she and all our colleagues deserve."
Carlson 50, also issued a public statement and said: "I am gratified that 21st Century Fox took decisive action after I filed my Complaint.
"I'm ready to move on to the next chapter of my life in which I will redouble my efforts to empower women in the workplace. I want to thank all the brave women who came forward to tell their own stories and the many people across the country who embraced and supported me in their #StandWithGretchen.
"All women deserve a dignified and respectful workplace in which talent, hard work and loyalty are recognized, revered and rewarded."
The news comes two and a half months after the longtime CEO and president Ailes, 76, stepped down at the network in late June in the wake of allegations.
Carlson had previously alleged her former employer "Ailes has unlawfully retaliated against Carlson and sabotaged her career because she refused sexual advances and complained about severe and pervasive sexual harassment."
Ailes has reportedly agreed to pay part of the settlement, according to sources who spoke with New York Magazine.
The company has also reached settlements with two other women with regards to Ailes.
After Carlson went public with her claims against Ailes, several other women spoke to outside lawyers hired by Fox News with similar stories of sexual harassment.
Carlson, who is currently on vacation in Croatia, co-anchored Fox & Friends for seven years before she left to anchor her own one-hour program for the network.
That show, The Real Story with Gretchen Carlson, was cancelled this year. She tweeted on July 6 that she was no longer with the network and that day she filed a sexual harassment lawsuit against Ailes.