CNN host Chris Wallace confirmed Monday that he will leave the ratings-troubled cable TV network and try to broadcast on an independent platform.
The 77-year-old broadcaster reveals his future plans. In an interview with The Daily Beast After spending the past three years at CNN.
According to the outlet, he said he wants to pivot to streaming or podcasting, claiming that's where “the action is likely to be.”
Wallace's move comes at the end of his three-year contract with CNN. He previously worked for nearly 20 years at FOX News.
“This is the first time in 55 years that I've taken time off from work,” he was quoted as saying. “I was actually turned on and liberated by it.”
CNN executives reportedly wanted to keep Wallace, the son of famous newsman Mike Wallace, but Wallace took the plunge before negotiations could get underway. .
“I have nothing but positive things to say. CNN has been very good to me,” he told The Daily Beast.
“Chris Wallace is one of the news industry's most respected political journalists with a unique track record in radio, print, broadcast television, cable and streaming,” said CNN CEO and Chairman Mark Thompson. ,” CNN CEO and Chairman Mark Thompson said in a statement to the network.
“We would like to thank him for the dedication and wisdom he brings to all his work at CNN and wish him the best in his future endeavors.”
Still, Wallace, who reportedly joined the company with an annual salary of about $8 million, was expected to help CNN renegotiate cost cuts. The Los Angeles Times reported.
Wallace had been offered a new contract for a much lower amount than he currently has under former CNN chief Jeff Zucker. Ankrah newspaper reported this last month.
Mr. Wallace, who started working at a local Chicago station in the early 1970s, said he has no intention of becoming a “supporter of the far right or the far left.”
“It's just not in my DNA,” he reportedly said, adding that he was still considering what streaming and podcast format he would put together.
Wallace was quick to point out early on election night that it would take a miracle for Vice President Kamala Harris to beat Donald Trump as exit poll results trickled in.
His final Friday show, “Who's Talking to Chris Wallace,” is scheduled for this week, while Saturday's “The Chris Wallace Show” is scheduled to run through the end of the year, according to the LA Times.
CNN has struggled with ratings in recent years, lagging behind Fox News and MSNBC in ratings during election night coverage.
