Unfortunately some people cannot handle fame and fortune. They get an overinflated opinion of themselves and behave accordingly. He has been found out and is embarrassed. This embarrassment is so intense that it has manifested itself as a type of depression. He is in danger of hurting himself at this point. Strangely enough he needs support. And, a lot of it.
Oh please, it's network speak for you have harmed our brand, take a few months off while we sort this out and spin you have mental issues, then come back and behave yourself. They'll tell Billy to deal with it if he wants to stay on the show or eff off. The type of industry it is, the scum of this earth always win out in the end. Look at Seven and Carey. Next they'll have Hird on their panel. The bigger the prick you are the better for your career.
They know if they spin "depression" that no-one will question that in fear the bloke will top himself - well I'm calling it crap!