Apparently, we are supposed to believe Chris Wallace chose to leave CNN. Yeah, because it’s not like Chris Wallace and CNN have ever lied to us.
So, after three years, the 77-year-old’s reported seven-figure contract came to an end, and rather than renew, he decided to join all the other young folks online with a neato podcast.
Let’s face it, if Wallace really did quit CNN, he did it so he could spend more time with no money and fewer viewers than even CNN offers.
But I don’t believe that. Here’s my take: CNN either chose not to renew his contract or CNN offered a much lower salary, something like $47,000 a year and parking validation.
With the death of cable TV, and by extension cable news, fast approaching, rehiring a Chris Wallace is no longer practical. Three years ago, disgraced former CNN chief Jeff Zucker was throwing money around like candy. He didn’t hire and overpay Wallace for any other reason than to thumb his nose at Wallace’s former employer, Fox News. Wallace brought nothing to the table. He’s a dreadful journalist with no audience who, like so many others, whored out his credibility with the rise of Donald Trump.
But that was three years ago when money from the affirmative action known as pay TV carriage fees was still flowing. Those days are coming to an end.
You see, it works like this…
When you are forced into a cable/satellite package that includes CNN, whether you watch CNN or not, CNN gets a piece of your cable bill — this is called a carriage fee. A decade ago, when 100 million American households subscribed to cable TV, CNN made hundreds of millions a year off of those fees even though its ratings suck. Today, however, with tens of millions canceling their cable and moving to streaming, those fees are drying up fast. CNN cannot survive without that affirmative action. Without it, CNN would have to survive on merit, or advertising dollars based on ratings. No one watches CNN. The hate outlet would fold in a week.
Let’s close this by taking Chris Wallace at his word. Okay, he really did give up a seven-figure contract renewal to do a podcast. That also proves my point: CNN is dying and Wallace knows the action is in alternative media.
Either way you slice Wallace exiting CNN, it tells us the villains are losing and America is winning.
John Nolte’s first and last novel, Borrowed Time, is winning five-star raves from everyday readers. You can read an excerpt here and an in-depth review here. Also available in hardcover and on Kindle and Audiobook.
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