Chris Wallace leaving CNN to pursue alternative media

The veteran broadcaster has been in the business for over 50 years and quipped to the Daily Beast, “This is the first time in 55 years I’ve been between jobs.” Wallace was reportedly offered "a new deal for significantly less than the $8.5 million pact he inked under former CNN boss Jeff Zucker," but will leave the network at the end of the year when his current three-year contract ends.

CNN CEO Mark Thompson said in a statement to Fox News, "Chris Wallace is one of the most respected political journalists in the news business with a unique track record across radio, print, broadcast television, cable television and streaming. We want to thank him for the dedication and wisdom he’s brought to all his work at CNN and to wish him the very best for the future."

Wallace told The Daily Beast that he is interested in going into streaming or podcasting citing that podcasters such as Joe Rogan and Charlamagne tha God "set the agenda" during the 2024 presidential election. Wallace added that streaming and podcasting is "where the action seems to be," but "I don’t flatter myself to think I will have that sort of reach."

In 2022, Wallace left Fox News to join CNN streaming service CNN+, which only lasted a month. Following the service’s collapse, Wallace remained at CNN and hosted two weekend talk shows, Who's Talking with Chris Wallace? and The Chris Wallace Show.

During the presidential election, The Chris Wallace Show had nearly 600,000 total viewers and averaged just 85,000 in the advertiser-coveted 25-54 demographic. Wallace’s career in television began in 1973 on local Chicago TV in Chicago and spanned over 5 decades including NBC’s The Today Show and Meet The Press, ABC’s PrimeTime Live and Fox News Sunday before joining CNN.

According to Fox News, the veteran broadcaster’s exit comes amid reports of CNN's financial troubles and may signal layoffs and salary cuts now that the 2024 campaign is over.