Veteran broadcaster Chris Wallace has chosen to leave CNN following substantial changes to the network's programming strategy.
Wallace, known for his journalistic career spanning decades, is departing due to impending show cancellations and salary cuts at CNN, pivoting towards podcasting and streaming ventures, New York Post reported.
CNN informed Chris Wallace that his programs would be discontinued due to low viewer engagement, as part of larger budget cuts led by CEO Mark Thompson. Offered a reduced analyst role with a slashed salary, Wallace chose to leave.
His departure reflects CNN’s cost-cutting strategy, which includes job cuts and salary adjustments for high-profile anchors. For instance, Jake Tapper and Wolf Blitzer recently had their pay raise requests denied.
In an interview, Wallace expressed a longstanding intention to transition away from CNN, describing his exit as an opportunity for career change rather than a response to network dynamics. "It doesn’t matter what was or wasn’t said in that meeting," Wallace told Puck News, explaining that the choice to leave preceded the network’s internal changes by several months.
Wallace is enthusiastic about his future in the worlds of podcasting and streaming. He called these mediums the hub of current media innovation, emphasizing his desire to explore fresh content avenues. “That’s where the action seems to be,” he remarked, indicating a strong interest in digital media trends.
The journalist joined CNN in 2021 to lead programs for the CNN+ streaming service, which shut down shortly after the Warner Bros. Discovery merger. Wallace’s show moved to Max but struggled with low viewership, drawing only 450,000 viewers, reflecting CNN's challenges in a competitive media landscape.
While CNN's ratings have declined, particularly after the last presidential election, competitors like Fox News dominate. Fox attracted 3.4 million viewers during the same period, compared to CNN's 61,000 in the key 25-54 demographic.
The strategic moves at CNN are not only impacting programming and salaries but entail wider workforce reductions. Hundreds of positions are expected to be eliminated, reflective of Thompson’s broader initiative to streamline network operations. The current climate indicates a transition focusing on sustainability as it adjusts to evolving viewer preferences.
In light of these transformations, Wallace discussed the prospect of uncertainty with a sense of enthusiasm. He conveyed liberation and motivation from the opportunity for flexibility, remarking, "This is the first time in 55 years I’ve been between jobs. I am actually excited and liberated by that." His words resonate with a newfound adaptability in a rapidly changing media industry.
Chris Wallace stated, "Not knowing is part of the challenge. I‘m waiting to see what comes over the transom. It might be something that I haven’t thought of at all."
As Wallace embarks on this new phase, his career departure from CNN marks a significant personal turning point. His history with high-profile journalism roles at both CNN and Fox News positions him uniquely for future explorations in digital content platforms. The shift highlights a substantial career journey fueled by curiosity and adaptability.
During the transition, Wallace and his wife decided early to leave CNN as his shows struggled with low ratings, reflecting challenges in today's broadcasting landscape. Despite this, Wallace expressed no regrets and remains optimistic about new opportunities.
His departure highlights a veteran journalist’s embrace of digital platforms and evolving audience engagement, mirroring a broader industry trend. Meanwhile, CNN’s cost-cutting and realignment underscore the challenges of adapting to shifting consumption patterns and financial pressures. Chris Wallace’s exit from CNN signifies more than a career move; it reflects his pursuit of modern media formats and CNN's efforts to balance fiscal responsibility with declining viewership.
