Fox News suspended host Eric Bolling on Saturday a day after a report accused him of sending an unsolicited photo of male genitalia to at least three female co-workers years ago via text message.
"Eric Bolling has been suspended pending the results of an investigation, which is currently underway," Fox said in a statement.
The channel taped one of Bolling's shows Cashin In' on Friday morning, but the episode was pulled once the allegations surfaced.
Citing 14 sources, all of whom spoke on the condition of anonymity, The Huffington Post reported that two female colleagues at Fox Business and one at Fox News received the lewd message from Bolling. The women who received the photos concluded they were delivered by Bolling because they recognized his phone number from previous correspondence, The Huffington Post reported.
According to The Huffington Post, one recipient of the message replied to Bolling via text and instructed him to stop sending her such photos. The Specialists co-host and ex-commodities trader did not respond to her message, The Huffington Post added.
The network said the investigation will be conducted by Paul Weiss, an outside counsel who has handled other investigations. Rotating substitute hosts will fill in for Bolling on The Specialists, which he co-hosted.
The allegations against Bolling are the latest in a wave of sexual harassment charges at Fox following the highly publicized departures of former news host Bill O'Reilly and ex-Fox News CEO Roger Ailes.
In July, Fox Business host Charles Payne was suspended while the company investigated allegations of sexual harassment after a woman said she was asked to make fewer appearances on Fox after ending an extramarital affair with Payne.
Contributing: Jessica Guynn and Mike Snider