Chris Wallace has decided to leave CNN after three years as one of its biggest stars, he exclusively told The Daily Beast on Monday.
The 77-year-old broadcaster said he would instead find a new home on an independent platform such as live streaming or podcasting, which he described as “where the action seems to be taking place.” He highlighted how podcasters, including Joe Rogan and Charlamagne Tha God, set the agenda during the presidential election, but added: “I don’t flatter myself when I think I’m going to have that kind of reach.”
Wallace’s stunning decision to quit CNN at the end of his seven-figure, three-year contract, rather than renegotiate it, was a watershed moment for cable television. It comes as other broadcasters face firing or pay cuts as ratings decline and cords cut to the industry’s bottom line.
Wallace spent 12 hours on the air on Election Night last week, making him one of the main faces of CNN’s coverage.
Wallace was one of the main faces of CNN’s Election Night coverage last week, correctly predicting that Kamala Harris would need a “miracle” to win as early polls showed the depth of her electoral difficulty. He came to CNN in 2021 after 18 years at Fox News, where he repeatedly interviewed Donald Trump and won praise for his handling of the fiery 2020 presidential debate between Trump and Joe Biden.
But he told The Daily Beast that his broadcast career — which began on local television in Chicago in 1973 and spanned NBC’s The Today Show and Meet The Press, ABC’s PrimeTime Live and Fox News Sunday — before joining CNN – It will end when he joins CNN. The contract expires at the end of the year, describing it as “completely liberating.”
“This is the first time in 55 years that I have moved between jobs,” he said. “I’m actually excited and free about it.”
Wallace is considering which podcast format would be right for him, adding: “Not knowing is part of the challenge. I’m waiting to see what comes over the bar. It’s probably something I’ve never thought about.”
CNN wanted to keep Wallace, but his decision to resign before contract talks will be seen as a sign of CNN’s declining influence in the media landscape. Its ratings have steadily declined, and its election night coverage has lagged far behind Fox News. In relative terms, it has declined more and faster than its competitors, Fox and MSNBC, leading to pressure to cut costs.
Wallace stressed that his decision was not a criticism of employers. “I have nothing but positive things to say. CNN has been very good to me.” He joined as one of the main faces of the CNN+ streaming network, only to be shut down by CNN’s new CEO, Chris Licht, a month after going live. in March 2022. Wallace hosts The Chris Wallace Show on Saturday mornings and Who’s Talking to Chris Wallace?, which airs on Max.
Wallace joins CNN after 18 years at Fox News. This included moderating the debate between Trump and Biden in 2020 in which the then-president sparred with Wallace and his presidential rival.
“Chris Wallace is one of the most respected political journalists in the news business with a unique track record across radio, print, broadcast, cable and live television,” Mark Thompson, CEO and chairman of CNN, said in a statement. “We want to thank him for the dedication and wisdom he has demonstrated in All his work at CNN and we wish him the best for the future.
His departure from traditional broadcasting comes after a career that saw him win every major award, including three Emmy Awards, in what television executives described as an existential moment for the industry. Last September, Hoda Kotb caused shock after quitting NBC’s Today Show, amid reports that she had refused to accept a contract of less than $20 million. Other networks’ TV stars are preparing for cuts, while an NBC executive warned of an imminent “bloodbath” following Kotb’s departure.
The crisis of traditional television has been mirrored in a deeply turbulent media landscape, as new stars are born on podcast, streaming and social platforms, and existing stars look to the same formats to reinvent themselves.
The most successful broadcasters or independent broadcasters to emerge from traditional television have so far been almost exclusively from the right. Tucker Carlson and Megyn Kelly have turned a combination of controversy, intrigue, lavish praise for Donald Trump and interviews with other MAGA figures into a huge following online.
Wallace has interviewed a series of presidents, including Barack Obama in 2013 for Fox News Sunday, as well as foreign leaders and Hollywood stars, and has won three Emmy Awards, a DuPont-Columbia Silver Button Award, and a Peabody Award. The White House/Reuters
In contrast, Don Lemon, Wallace’s former CNN colleague, has largely failed to find traction with his Don Lemon Show, which he launched as a partnership with Elon Musk’s X, and which features a fascinating interview with the billionaire. But Musk objected to the questions and terminated the deal. Left-wing polemicist Mehdi Hassan gained a large following on Substack after leaving MSNBC, which means Wallace will be unusual in not being a partisan warrior.
“Obviously I’m not going to be an apologist for the hard right or the hard left. “It’s just absent from my DNA,” he said.
Instead, he said he would rely on his own brand, honed over decades of interviews, to gain leverage. “I’ve interviewed presidents, princes, kings and one saint, Mother Teresa,” he said.
In 1985, Wallace interviewed President Ronald Reagan and First Lady Nancy Reagan at their California ranch. Recently, Vladimir Putin asked why his opponents repeatedly die. White House photo collection
Like other broadcasters, he also wrote popular histories. He is working on an addition to his best-selling Countdown series, which has so far covered the period leading up to the dropping of the atomic bombs on Hiroshima and Nagasaki; 1960 presidential elections; And the hunt for Osama bin Laden.
Wallace said he decided to move in a new direction after he spoke in the spring of 2024 with his wife, Lauren, about his future and decided to “stay” in the election and then declined to renew his contract. The couple has six children and nine grandchildren. “My family just wants me to be happy, and they want me to keep working,” he said. “They don’t want to worry about entertaining me.”
Wallace is following a family tradition by entering his sixth decade in broadcasting, or the recent equivalent. His father, Mike, worked into his 80s, making his last appearance on 60 Minutes shortly before his 90th birthday.
“I know I want to do something because Wallace keeps working,” he said.
The Chris Wallace Show will end next month and the final episode of Who’s Talking to Chris Wallace will be on Friday as scheduled.
