Media Matters for America has the clip.
O'Reilly claimed NY  Times, other "lefty zealots" believe "the white Christians who hold power  must be swept out by a new multicultural tide" 
 Summary: Bill O'Reilly claimed that The New York Times and "many  far-left thinkers believe the white power structure that controls America is  bad, so a drastic change is needed." O'Reilly continued: "According to the lefty  zealots, the white Christians who hold power must be swept out by a new  multicultural tide, a rainbow coalition, if you will."
 During the May 16 edition of Fox News' The O'Reilly Factor, host Bill O'Reilly claimed that The  New York Times and "many far-left thinkers believe the white power structure  that controls America is bad, so a drastic change is needed." O'Reilly  continued: "According to the lefty zealots, the white Christians who hold power  must be swept out by a new multicultural tide, a rainbow coalition, if you  will." O'Reilly's comments came during a discussion of opposition by the  Times and others to deploying the National Guard to help secure the  border.
 As Media Matters for America has noted, O'Reilly has previously claimed to have  exposed the "hidden agenda" behind the immigration movement, which he said was  "the browning of America." O'Reilly also asserted, during the same April 12  edition of his nationally syndicated radio show, that "there is a movement in  this country to wipe out 'white privilege.' " Additionally, on the May 1 edition  of The Radio Factor, O'Reilly alleged  that the "organizers" of the May 1 nationwide pro-immigrant protests have a  "hardcore militant agenda of 'You stole our land, you bad gringos,' " and that  the organizers seek to "take it back by massive, massive migration into the  Southwest.' "
 From the May 16 edition of Fox News' The O'Reilly Factor: 
  O'REILLY: Now in 1986, President Reagan thought he could solve the  [immigration] problem by granting about 3 million illegal aliens amnesty. The  New York Times was in heaven, editorializing back then, quote, "The new law  won't work miracles but it will induce most employers to pay attention, to turn  off the magnets, to slow the tide." Of course, just the opposite happened. But  the Times hasn't learned a thing. That's because the newspaper and  many far-left thinkers believe the white power structure that controls America  is bad, so a drastic change is needed.
 According to the lefty zealots, the white Christians who hold power must  be swept out by a new multicultural tide, a rainbow coalition, if you will.  This can only happen if demographics change in America.
 An open-border policy and the legalization of millions of Hispanic illegal  aliens would deeply affect the political landscape in America. That's what  The New York Times and many others on the left want. They might get it.  And that's the "Memo."