Apparently, we believe Chris Wallace has chosen to leave CNN. Well, it's not like Chris Wallace and CNN have ever lied to us.
So, three years later, the 77-year-old's contract has reportedly ended, and rather than renewing it, he has decided to work online with other young people. NEET Podcast.
Let's be honest: If Wallace really did quit CNN, he did so to spend more time with fewer viewers and no money than what CNN offers.
But I don't believe it. Here's my take: Either CNN chose not to renew his contract, or CNN offered him a much lower salary of around $47,000 per year and parking validation.
With the death of cable television, and by extension cable news, on the horizon, it is no longer practical to rehire Chris Wallace. Three years ago, disgraced former CNN chief Jeff Zucker was throwing money around like candy. He did not hire or pay Wallace for any reason other than to criticize Wallace's former employer, Fox News. Wallace brought nothing to the table. He is a terrible journalist with no audience, and like many others, the rise of Donald Trump has eroded his credibility.
But that was three years ago, when affirmative action money, known as pay-TV fees, was still flowing. Those days are coming to an end.
See, it works like this…
If you are forced to subscribe to a cable/satellite package that includes CNN, CNN will take a cut of your cable bill, whether you watch CNN or not. This is called freight. Ten years ago, when 100 million U.S. households subscribed to cable TV, CNN was making hundreds of millions of dollars a year from its services, even though its ratings were low. But now, as tens of millions of people cancel cable TV and move to streaming, those fees are quickly drying up. CNN cannot survive without that proactive action. Without that, CNN would have to survive on its own merits, i.e. ad spending based on viewer ratings. Nobody watches CNN. The outlet for hatred will be crushed in a week.
Let me conclude by taking Chris Wallace's words to heart. Yes, he actually gave up a seven-figure contract renewal to do a podcast. This also supports my argument. CNN is dying, and Wallace knows the movement is in alternative media.
Either way, even cutting out Wallace leaving CNN shows that the villain has lost and America has won.
John Nolte's first and last novel 'Borrowed Time' wins award five star rave From daily readers. You can read an excerpt here and a detailed review here. Also available in hard cover And even more Kindle and audio book.
