Chris Wallace leaving CNN

Chris Wallace, the veteran newscaster who left Fox News after decades to join CNN's short-lived streaming service, will depart the network this fall.

News of Wallace's departure was first reported by The Daily Beast.

In a statement to The Hill late Monday, CNN CEO Mark Thompson called Wallace "one of the most respected political journalists in the news business with a unique track record across radio, print, broadcast television, cable television and streaming."

Wallace, 77, told the Beast he is not quitting the news business and intends to work for a streaming service or in podcasting, which he described to the outlet as "where the action seems to be."

“This is the first time in 55 years I've been between jobs,” he said. “I am actually excited and liberated by that.”

Wallace joined CNN late in 2021 after leaving Fox News, where he had worked as an anchor and debate moderator for 20 years and hosted "Fox News Sunday."

His hiring was part of a major push at the time into the cable network's direct-to-consumer streaming service CNN+.

CNN+ was shuttered after less than a month as it failed to gain traction, and Wallace was later tapped to host a weekend talk show interviewing celebrities, pundits and other newsmakers.

The anchor's departure, which comes just days after President-elect Trump's reelection, is a major blow to CNN's roster of hosts and political analysts. It also comes as the network has experienced struggles with ratings, and as it faces significant questions about declines in linear television viewing.

Wallace was featured prominently as part of CNN's election night coverage last week.

"We want to thank him for the dedication and wisdom he’s brought to all his work at CNN and to wish him the very best for the future," Thompson said.