Veteran journalist Chris Wallace is departing Warner Bros Discovery-owned CNN to pursue the development of his own media empire, he confirmed in a news interview on Monday.
Speaking with the Daily Beast, Wallace said the time was right to bring his brand of journalism to different platforms, at a time when news conversations are moving away from cable TV in favor of podcasting and streaming.
“This is the first time in 55 years I’ve been between jobs,” Wallace, 77, told the news outlet. “I am actually excited and liberated by that.”
Wallace said he isn’t sure what’s next, adding that “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.”
In a statement, CNN’s CEO Mark Thompson called Wallace “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,” Thompson said.
The son of famed CBS Newsman Mike Wallace, Chris Wallace began his news career in the 1970s, working for WNBC-TV (Channel 4) in New York before joining NBC News. In the late 1980s, he became a correspondent for ABC News, where he covered the White Hosue during the administrations of George H. W. Bush, Bill Clinton and George W. Bush.
In 2003, Wallace left ABC News for Fox News, which was gaining momentum in the cable news space. He hosted the facts-forward news program “Fox News Sunday,” which was syndicated to local Fox stations and affiliates, in addition to its airing on the cable channel.
His depature for CNN in 2022 came as something of a surprise, though Wallace took it as an opportunity to reach a new generation of news consumers through the streaming platform CNN Plus. The platform lasted less than a month; Wallace eventually brought his show, “Who’s Talking to Chris Wallace?” to CNN and the streaming platform Max.
Wallace’s contract with Warner Bros Discovery (WBD) was for three years. His decision to walk away came during contractual negotiations with WBD, who wanted to retain him for another few years.
During his time at CNN, the network has lost out in the cable news rating wars to Fox News Channel and MSNBC. Last week, CNN’s prime-time coverage of the 2024 presidential election came in third among cable news channels; it was the first time CNN’s Election Day coverage had placed behind MSNBC since the latter launched in the mid-1990s.
