Chris Wallace dropped a bombshell late Monday evening announcing that he is leaving CNN after a three-year run. Wallace explained his decision in an exclusive interview with The Daily Beast, where he also revealed his intention to pursue independent opportunities in the streaming and podcast space.
“This is the first time in 55 years I‘ve been between jobs,” he remarked. “I am actually excited and liberated by that.”
Since joining CNN from Fox News in 2021, Wallace has been a prominent fixture in the network’s political news coverage, offering in-studio analysis throughout the 2024 election cycle. He also hosted the Saturday morning newscast The Chris Wallace Show, as well as the streaming series Who’s Talking to Chris Wallace on Max.
A CNN spokesperson confirmed Wallace’s departure to TVNewser and indicated that The Chris Wallace Show will continue to air over the next several Saturdays. No additional information was provided about CNN’s Saturday morning plans after the show ends its run. Meanwhile, Who’s Talking to Chris Wallace will stream its final episode on Friday.
“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,” Mark Thompson, CNN’s CEO and chairman said in a statement. “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.”
While Wallace’s departure reportedly caught the network by surprise, experienced media-watchers have noted that signs were evident. According to reports, Wallace was not happy that his $8 million salary might be trimmed, especially after CNN colleagues Jake Tapper and Wolf Blitzer reportedly re-signed with the network at their current rates.
Additionally, Puck’s Dylan Byers has reported that layoffs are on the way at CNN in the wake of the election, which could see the departures of additional on-air talent. Salary cuts and re-negotiations are part of Thompson’s efforts to curbing expenditure on the linear side of the business while directing more attention towards CNN’s digital assets.
Some of the digital initiatives that are being unveiled include the addition of a paywall on its website and the rollout of John King‘s Magic Wall as a feature on CNN’s mobile and connected TV apps ahead of the election. More announcements on additional digital offerings are expected to be coming soon.
Wallace, meanwhile, was careful to praise CNN on his way out the door. “I have nothing but positive things to say,” he noted. “CNN has been very good to me.”
