CNN ’s Chris Wallace recently announced he was exiting the network to explore the podcast and streaming landscape. However, it appears there may be more to his departure than meets the eye. On Monday (November 11), the broadcaster who signed a three-year contract with CNN in 2021 after 18 years with Fox News said he would be leaving the Warner Bros subsidiary.
“When I look at the media landscape right now, the people who are going independent, whether it’s podcasting or streaming, that seems to be where the action is,” the 77-year-old veteran broadcaster told The Daily Beast. “This is the first time in 55 years I’ve been between jobs,” he added. “I am actually excited and liberated by that.
” Wallace’s exit was confirmed shortly thereafter by CNN chief executive Mark Thompson, who called him “one of the most respected political journalists in the news business.” It’s since been claimed, in a new report published by Puck News , that Wallace’s exit came after he was informed his two shows – Who’s Talking to Chris Wallace? and The Chris Wallace Show – were getting canceled and his reported $7m annual salary was going to be massively slashed. His salary reduction was part of the company’s wider cost-cutting initiatives, according to the outlet.
It was also reported that Thompson had told Wallace he was welcome to stay with the network – but as an analyst with a much lower salary. Meanwhile, the three-time Emmy winner and son of 60 Minutes host.