Chris Wallace To Leave CNN For Career In Streaming
Chris Wallace has decided to make yet another career pivot following his departure from Fox News a few years back and his subsequent move to CNN, where his viewership significantly declined.
As reported by The Daily Beast, the 77-year-old journalist shared that he plans to transition to an independent platform like streaming or podcasting, which he described as “‘where the action seems to be.’”
The outlet continued, explaining that Wallace praised podcasters like Joe Rogan and Charlamagne tha God for shaping the conversation during the presidential election, but he modestly added, “I don’t flatter myself to think I will have that sort of reach.”
Wallace’s unexpected choice to leave CNN at the end of his lucrative three-year contract rather than renew it marks a significant moment for cable TV. His decision comes as other anchors are at risk of layoffs or salary reductions, a consequence of declining ratings and the ongoing financial pressures from cord-cutting, the outlet further reported.
Last week, Wallace played a key role in CNN’s election night coverage, accurately predicting that Kamala Harris would need a “miracle” to win after initial exit polls revealed her challenges. Wallace joined CNN in 2021, following an 18-year tenure at Fox News, where he conducted high-profile interviews with Donald Trump and received criticism for his approach to fact-checking Trump without similarly scrutinizing Joe Biden during a 2020 debate.
He told The Daily Beast, “This is the first time in 55 years I’ve been between jobs. I am actually excited and liberated by that.”
Wallace is exploring streaming and podcast formats and remarked, “Not knowing is part of the challenge. I’m waiting to see what comes over the transom. It might be something that I haven’t thought of at all.”
Although CNN hoped to keep Wallace, his choice to exit before contract negotiations is likely to be viewed as a commentary on the network’s waning influence. CNN’s ratings have steadily dropped, with its election night coverage trailing significantly behind Fox News. Compared to rivals like Fox and MSNBC, CNN’s audience erosion has been notably sharp, resulting in heightened pressure for cost reductions.
Wallace emphasized that his departure was not a critique of CNN, saying, “I have nothing but positive things to say. CNN has been very good to me.”
The outlet elaborated:
Wallace’s move away from traditional broadcasting, following a career in which he earned every major award, including three Emmys, comes amid what TV industry insiders describe as an “existential” time for the sector. In September, Hoda Kotb sent shockwaves by leaving NBC’s Today Show amid reports she refused to accept a contract worth less than $20 million. Other prominent TV personalities are bracing for cuts, with an NBC executive warning of a potential “bloodbath” following Kotb’s exit.
The challenges facing traditional TV are mirrored by a rapidly evolving media landscape, where new stars are rising through podcasts, streaming, and social media, while established figures are also exploring these formats for reinvention.
So far, the most successful figures who have transitioned from conventional TV to independent broadcasting have largely been conservative voices.
In contrast, Wallace’s former CNN colleague Don Lemon has faced difficulties gaining traction with his Don Lemon Show on Elon Musk’s platform, X, after an interview with Musk soured and led to a termination of their partnership. Meanwhile, left-wing commentator Mehdi Hasan has garnered a solid following on Substack after leaving MSNBC, making Wallace’s non-partisan approach a unique choice in today’s divided media environment.