He stays because he speaks to his audience which is old old old rusted on righties... And he owns a stake in the station
As to him being gay, what the hell does that have to do with anything?
He is an asshole who peddles rumours, insults, half-truths, selected titbits and outright lies. These are then spread to the wider community by the lazy hacks that we call journalists nowadays. And he is allowed to do so with absolute abandon by his bosses and the regulator. That is what makes him dangerous, not that he is gay. His sexual orientation is totally beside the point.