Veteran CNN news anchor Chris Wallace announced that he is leaving the network to venture into the world of streaming.
Wallace, 77, told daily beast He decided to resign from his seven-figure contract on Monday, just a week after anchoring the station’s election night coverage.
The career journalist described his decision as “quite liberating.” His time through the chain will end at the end of the year.
‘This is the first time in 55 years that I have been between jobs. I’m actually excited and liberated by it,” Wallace told the outlet.
Although Wallace described the streaming and podcasting space as “where the action seems to be,” he’s not exactly sure where that will take him.
‘Not knowing is part of the challenge. I’m waiting to see what happens over the transom. “It may be something I hadn’t thought about at all,” he said.
Veteran news anchor Chris Wallace announced Monday that he is leaving CNN to pursue a career in streaming.
The career journalist called his decision “quite liberating,” since his time at the network will end at the end of the year.
Despite not being sure what lies ahead, Wallace said, “I’m clearly not going to become a far-right or far-left advocate.” It is simply absent from my DNA.
Wallace revealed that he plans to embark on his new venture by adding touches of his own brand and style.
“I have interviewed presidents, princes, kings and a saint, Mother Teresa,” he said.
Another component of his decision was his family, according to Wallace, who said he and his wife Lorraine discussed their future in the spring of 2024.
The couple of 26 years agreed that Wallace would ‘stay’ for the 2024 election before leaving the station.
‘My family just wants me to be happy and wants me to continue working. “They don’t want to have to worry about entertaining me,” Wallace said.
He has six children and nine grandchildren. Wallace shares four children with his first wife Elizabeth Farrel, while his current wife has two children with her ex-husband Dick Smothers.
Prior to working at CNN, Wallace was at Fox News Sunday for 18 years until 2021.
She originally joined the station to be one of the faces of CNN+, a failed streaming network that was snubbed by former CEO Chris Licht just a month after launching in March 2022.
The journalist currently hosts The Chris Wallace Show on Saturday mornings on the station and Who’s Talking to Chris Wallace?, which airs on Max.
Wallace made it clear that his decision had nothing to do with his experience at CNN, saying, “I have nothing but positive things to say.”
“CNN has been very good to me,” he added.
Mark Thompson, current CEO and president of CNN, said Wallace is “one of the most respected political journalists in the news business with a unique track record in radio, print, broadcast television, cable television and streaming.”
“We want to thank him for the dedication and wisdom he has brought to all his work at CNN and wish him the best for the future.”
Wallace started at a local television station in Chicago in 1973, before moving on to other major networks, including Meet the Press, The Today Show and ABC’s PrimeTime Live.
He followed in the footsteps of his late father, Mike Wallace, a renowned 60 Minutes reporter who worked into his 80s. (Pictured: Mike and Chris in an undated image)
Over the years, she has won major awards for her hard work in the industry, including three Emmy Awards.
He is currently working on a new edition of his ‘Countdown’ book series, where he previously detailed the 1960 presidential election, the atomic bombings of Hiroshima and Nagasaki, and the search for Osama bin Laden.
Throughout his career, Wallace has interviewed a number of high-profile political figures, including President-elect Donald Trump, Ronald and Nancy Reagan, Vladimir Putin, and Barack Obama, among others.
He followed in the footsteps of his late father, Mike Wallace, a renowned 60 Minutes reporter who worked into his 80s.
His parents divorced when he was just one year old and he grew up with his mother Norma Kaphan and his stepfather Bill Leonard, former president of CBS News.
Wallace knows for a fact that although his time at CNN is coming to an end, his career is not over yet.
“I know I want to do something because Wallace is still working,” he said.
CNN’s ratings have been lagging far behind rivals FOX and MSNBC, part of what is rumored to be a winter of layoffs that many at the network fear will be a “bloodbath,” and one source said “we have to turn the place upside down.”
Wallace has interviewed a variety of high-profile political figures, including President-elect Donald Trump, Ronald and Nancy Reagan, Vladimir Putin, and Barack Obama, among others.
Over the years, she has won major awards for her hard work in the industry, including three Emmy Awards. (Pictured: Wallace with Megyn Kelly and Bret Baier in 2015)
Jake Tapper and Wolf Blitzer, who earned $7 million and $3 million, respectively, signed new deals for the same price, and one agent joked that “flat is new.”
News of his departure comes as many networks face difficulties as anchors’ salaries are cut or left to their own devices.
In late September, Today Show legend Hoda Kotb announced that she will be leaving the show early next year after nearly seven years at the helm.
Hoda, who has been a part of NBC News for 26 years, immediately became emotional when she explained to her fellow co-hosts that turning 60 had been a “monumental moment” that made her decide it was time to “try something new.”
The television icon, who reportedly earns around $8 million a year, also wrote a letter explaining his “painful” decision to his colleagues, further explaining that celebrating his 60th birthday caused a seismic “change” in his life.
