CNN Faces Major Layoffs Amidst Chris Wallace's Departure

Chris Wallace leaves CNN to explore new media opportunities as the network plans significant staff reductions due to declining ratings.

Chris Wallace announced his departure from CNN after three years, seeking opportunities in streaming and podcasting.
CNN is planning to lay off hundreds of employees, including some top stars, following a significant drop in ratings.
The network's viewership has been declining, with recent election coverage losing to MSNBC for the first time.
New CEO Mark Thompson is shifting focus from traditional TV ratings to digital and streaming growth.
Wallace's decision was influenced by potential salary cuts and a desire to explore independent media formats.