Fox News previously hired Palin as a contributor but did not renew her contract earlier this year. When she was hired in 2010, she reportedly signed a $1 million-a-year contract with the network.
According to a Fox News press release, Palin will contribute to the network's daytime and primetime programming and Fox Business Network. She will first appear on Monday's "Fox & Friends." The date coincides with the launch of CNN's new morning show "New Day," which was created by the network's new president and morning show aficionado, Jeff Zucker.
In response to Palin's return, Fox News chief Roger Ailes said in a statement, "I’ve had several conversations with Governor Palin in the past few weeks about her rejoining FOX News as a contributor. I have great confidence in her and am pleased that she will once again add her commentary to our programming. I hope she continues to speak her mind."
The network announced Palin's return on the same day that News Corp. chief Rupert Murdoch filed for divorce from his wife of 14 years.