After three years at CNN, Chris Wallace is no longer with the network.

Chris Wallace, a seasoned broadcaster, is departing CNN after just two and a half years with the network.

"Mark Thompson, CEO of CNN, praised Chris Wallace's reputation as a respected political journalist with a diverse background in media. In a statement to Planet Chronicle Digital, he thanked Wallace for his contributions to CNN and wished him well in the future."

CNN offered Wallace a contract extension, but he opted to leave the network, according to a source close to the matter, who confirmed the news to Planet Chronicle Digital. The initial report of his departure from CNN was published by The Daily Beast.

Wallace intends to venture into streaming or podcasting as an independent entity, as he revealed to The Daily Beast.

A report from The Ankler last month stated that Wallace had been offered a new deal for less than the $8.5 million pact he signed under former CNN boss Jeff Zucker.

In 2022, Wallace became a part of CNN's unsuccessful streaming service, CNN+. Despite the failure of CNN+, Wallace continued to work at the network and hosted two weekend talk shows, "Who's Talking with Chris Wallace?" and "The Chris Wallace Show," which both received low viewership.

In the year of the presidential election, "The Chris Wallace Show" did not achieve 600,000 total viewers and had an average of 85,000 in the advertiser-coveted 25-54 demo.

Before CNN, Wallace hosted "Planet Chronicle Sunday" for 18 years.

Through the end of the year, he will be on the network.

The 2024 election's end may lead to financial difficulties for CNN, potentially resulting in layoffs and salary cuts for on-air talent, including Wallace's departure.