Anchor Chris Wallace spoke out Sunday about the sudden collapse of CNN+, the streaming platform that survived for just one month before shuttering last week.
What is the background?
After working at Fox News for nearly 20 years, Wallace announced last December that he was leaving the network for CNN+.
However, Wallace will be out of a job at the end of the week because executives at Discovery, which recently merged with CNN’s parent company, shuttered the streaming platform just three weeks after it launched. Wallace was perhaps the biggest figure who joined CNN+, a project that cost hundreds of millions of dollars.
Speaking in an interview on Sunday, Wallace admitted that he is not sure where he will work next. Instead, his primary concern lies with the majority of CNN+’s employees.
“I am going to be fine. I’m in good shape, whether it’s at CNN or someplace else. Frankly, what I’m mostly concerned about right now — and very — is my team and hundreds of other people,” Wallace said.
“There were 300 people, I think, that had jobs at CNN+. Some of them had left CNN to go to streaming, some of them had left other places, moved across the country, and so I think you’re seeing a lot of the anchors at CNN+ doing everything they can to protect the people that were working on their team,” he added.
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Wallace will, indeed, be in “good shape” no matter what happens next in his career.
Not only was Wallace a high-paid anchor at Fox News, but Wallace was reportedly offered an annual salary of $9 million to bring his services to CNN+, the New York Post reported.
In total, CNN+ reportedly spent $300 million launching the streaming platform and several hundred million additional dollars on advertising. However, CNN+ only managed to net 150,000 subscribers during its launch, the New York Times reported. Executives reportedly hoped the platform could amass between 15 to 18 million subscribers within four years.
The final day of operations for CNN+ will be April 30.