Chris Wallace out at CNN after 3 years at the network

Veteran broadcaster Chris Wallace is leaving CNN after less than three years at the network.

“Chris Wallace is one of the most respected political reporters in the news business, with a unique track record across radio, print, television, cable and streaming,” CNN CEO Mark Thompson said in a statement to Fox News Digital. “We want to thank him for the dedication and wisdom he has brought to all his work at CNN, and we wish him the best for the future.”

Wallace was offered a contract extension by CNN but chose to leave the network, a source familiar with the matter confirmed to Fox News Digital. His departure from CNN was first reported by The Daily Beast.

The 77-year-old told The Daily Beast that he wants to go independent into streaming or podcasting.

FOX NEWS CHANNEL ATTRACTS MORE THAN 10 MILLION VIEWERS ON VALIDATION NIGHT AS TRUMP’S HISTORIC VICTORY UNFOLDS

CNN host Chris Wallace is leaving the network after less than three years. (Screenshot/CNN)

According to a report from The Ankler Last month, Wallace had been offered “a new deal for significantly less than the $8.5 million pact he made under former CNN chief Jeff Zucker.”

Wallace joined CNN in 2022 as part of the network’s ill-fated CNN+ streaming service. After CNN+’s implosion, Wallace remained at the network and continued to host two different weekend talk show programs “Who’s Talking with Chris Wallace?” and “The Chris Wallace Show,” both received poor ratings.

CLICK HERE FOR THE LATEST MEDIA AND CULTURE NEWS

During the presidential election year, “The Chris Wallace Show” failed to reach 600,000 total viewers and averaged just 85,000 in the advertiser-coveted 25-54 demo.

Prior to CNN, Wallace hosted “Fox News Sunday” for 18 years.

He is expected to appear on the network at the end of the year.

Reports of CNN’s financial woes are coming to a head as the 2024 election draws to a close. (Reuters)

CLICK HERE TO GET THE FOX NEWS APP

Wallace’s exit comes as reports of CNN’s financial problems may come to a head now that the 2024 election is over, signaling potential layoffs and pay cuts for on-air talent.