On Monday, Chris Wallace announced that he is departing CNN, where he has had a rather unconventional tenure in recent years.

While he had no further comments at the time, Wallace shared with the Daily Beast that he is concluding his three-year contract with CNN to pursue opportunities on a podcast or streaming service, as he believes that’s “where the action appears to be.”

Wallace’s exit from CNN is significant news. The reasons behind his departure might seem more noteworthy, especially to those who haven’t been closely following the developments.

At 77, Wallace is often seen as a symbol of traditional media. He made headlines in 2021 when he left Fox News, where he hosted the network’s most balanced program, “Fox News Sunday.” (A quick scan of X reveals that many right-wing viewers are still upset with him for pressing Donald Trump on tough issues during the 2020 election.) His career has also included stints at ABC, NBC, and local television in Chicago, starting out as a newspaper journalist.

Wallace Led ‘Who’s Talking to Chris Wallace?’ on CNN

Most recently, Wallace was the host of “Who’s Talking to Chris Wallace?” on CNN and played a key role in the network’s election reporting.

However, he initially joined CNN to work on CNN+, the network’s expensive online-only service that was abruptly shut down shortly after its launch. Although that venture failed spectacularly, it demonstrated an ambition to embrace new methods of news delivery, something Wallace seemed keen to explore.

This kind of forward-thinking attitude is crucial now more than ever, and Wallace appears to recognize this necessity.

However, his decision to leave might also stem from other factors. According to Oliver Darcy’s “Status” newsletter, Wallace was “frustrated” by impending salary cuts that would affect his reported $8 million annual income while other anchors’ salaries remained the same. It’s understandable; sometimes, a nudge is all it takes to pursue new opportunities.

Regardless of his reasons, Wallace is tapping into a significant trend. For the first time, MSNBC’s election night ratings surpassed those of CNN (although Fox News still led by a wide margin). Following the election, critiques of traditional media became rampant, with many commentators questioning its declining effectiveness.

Legacy media is reportedly in decline! Or perhaps it’s just struggling! This rhetoric may be exaggerated and part of the explanations for the Democrats’ unexpected losses, but there is definitely room for improvement within the media landscape.

Is Joe Rogan the Future of Media?

It appears that traditional interviewing techniques and media coverage are fading in favor of more casual formats, as some suggest. While some of this commentary seems reactive and overly simplistic, it’s evident that the media landscape requires thorough reflection and innovation in how information is shared. (In fact, the industry may already be behind the curve.)

While Wallace may not be perfectly suited for this new era, it’s hard to say what his future holds. I’d certainly be interested to hear his perspective. He acknowledged Rogan and Charlamagne tha God’s influence during the elections, saying, “I don’t delude myself into thinking I will have that kind of reach.”

This could be a smart strategy. In today’s landscape, seemingly everyone has a podcast. So why not? Wallace’s departure is indicative of a larger shift in the media realm, and it will be intriguing to watch where it takes us.