After a three-year tenure, seasoned news journalist Chris Wallace is leaving CNN. The 77-year-old confirmed his departure from the news network in an interview with The Daily Beast, revealing his interest in exploring independent platforms such as streaming services and podcasting.

Wallace, who began his career with CNN in 2021 after almost 20 years with Fox News, underscored that his decision was not influenced by any dissatisfaction with the network. “I have nothing but positive things to say. CNN has been very good to me,” he declared. He indicated that the rapidly evolving media landscape, with a growing focus on streaming platforms and podcasts, was a factor in his decision.

Wallace’s departure from CNN happens in the midst of declining network ratings and the rise of digital platforms. This move is viewed as part of a wider trend where media veterans are seeking new content formats.

Mark Thompson, CEO of CNN, recognized Wallace’s contributions by stating, “Chris Wallace is one of the most respected political journalists in the news business.”

Thompson is planning a substantial overhaul of the organization, which includes eliminating hundreds of positions in an effort to modernize the legacy news network.

With CNN experiencing its lowest viewership in the crucial 25-54 age demographic since 2000, the network’s ratings have dropped to an unprecedented low, averaging only 61,000 viewers on a recent Tuesday.

Wallace’s decision to leave CNN and a substantial seven-figure contract rather than renegotiating terms is a significant development in the cable TV sphere. Other news anchors at CNN may face termination or salary cuts.

Wallace is optimistic about future possibilities, although he remains unsure about his immediate next steps.