I haven't watched O'Reilly in ages. I got pretty disillusioned with him when I started noticing that he doesn't keep himself informed on issues. I rants on and on about some things that have already been proven wrong long before he airs his shows.
That's fine with him, he'll end up with an audience of dummies and still get his paycheck, but he'll have to keep lowering his show until he's just another Larry King. It all pays the same, he won't care.
O'Reilly does not have the work ethic required to stay on top. Look at Rush... years and years and years of doing his show and he still preps as if it was day one.