Chris Wallace's recent departure from CNN after three years marks a significant shift in his career trajectory, reflecting broader trends in the media landscape. Joining CNN in 2021, Wallace transitioned from Fox News with high expectations as the network sought to innovate following the launch of its short-lived streaming service, CNN+ . However, as CNN grapples with declining ratings and restructuring under Warner Bros. Discovery, Wallace's exit underscores the challenges traditional news outlets face in adapting to an evolving audience.
Wallace, 77, who signed a three-year contract with CNN in December 2021, told The Daily Beast that “this is the first time in 55 years I’ve been between jobs. I am actually excited and liberated by that.”
He was one of the faces of CNN’s election night coverage just last week, so his exit may come as a surprise to viewers. But it is common for TV news anchor contracts to align with presidential election cycles and for networks to make major adjustments in the months afterward.
CNN, he remarked, “I have nothing but positive things to say. CNN has been very good to me.”
CNN wanted to retain Wallace but his decision to quit ahead of contract talks will be seen as a sign of CNN’s waning influence in the media landscape. Its ratings have been consistently down, with its election night coverage falling far behind Fox News. In relative terms, it has slid further and faster than its competitors, Fox and MSNBC, leading to pressure to cut costs.
Walter Cronkite in 1964, Wallace later served as White House correspondent at NBC News as well as anchoring weekend editions of the NBC Nightly News and hosting Meet the Press in the 1980s. Wallace moved to ABC in 1989, hosting Nightline and Primetime Live.
He joined Fox News in 2003, remaining there for nearly two decades as the host of Fox News Sunday. In 2016, he became the first Fox News journalist to moderate a presidential debate, with Donald Trump and Hillary Clinton squaring off. He hosted another presidential debate in 2020, between Trump and Joe Biden.
Wallace's decision to pivot towards streaming and podcasting illustrates his recognition of where contemporary media consumption is heading. He perceives streaming as a domain that offers greater creative freedom and an expanding audience base. While he acknowledges that achieving the level of influence held by figures like Joe Rogan is unlikely, Wallace’s enthusiasm for exploring new avenues beyond conventional television reflects a growing sentiment among journalists seeking innovative platforms for their work .
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