He must have been quite unhappy with the environment, because I would think (I could be wrong), that going from an actual Cable program/channel to a streaming upstart would be a substantial pay cut.
Even Vox (a definite left-leaning outlet) ran an article about CNN+ and didn't seem too impressed by it
What is CNN+ and why would you pay for it?
What is CNN+, the cable news channel’s new streaming service? Let’s do the short answer first: CNN+ is not CNN.
Think of it, for now, as CNN Jr.
Slightly longer: If you want to watch Actual CNN, CNN+ is not for you. Actual CNN is still limited to people who pay for the news channel as part of a pay-TV bundle. So CNN+, which will launch next year for a yet-to-be-disclosed price, will be ... something else. That is, stuff that’s like CNN, but not on CNN (disclosure: Vox Media is producing a series with CNN Originals and I’m working on that project).
Here’s the full story: CNN+, like lots of other attempts from big TV programmers to move into the streaming world, is an in-betweener: It wants to leverage the old TV channel’s brand to create a new revenue stream, without cannibalizing the thing that generates enormous revenue and profits.
I haven't seen any links indicating how much he's getting paid to be on the new platform, but
his previous salary at Fox was $7 million a year.
That's not to say that alternative platforms can't hit a homerun, or that a few key people can't make bank on an alternative platform (that otherwise doesn't do all that well in terms of numbers). Obviously there's platforms like Netflix that took off and have been wildly successful.
And then there's alternative platforms like SiriusXM (formerly two separate companies), where a couple of well-known personalities made big money (Howard Stern, Opie & Anthony) despite the platform not having huge draw overall, while the rest of the people on there made practically peanuts and was a virtual graveyard of washed up DJ's.
So who knows what Wallace's deal will be like. Even if CNN+ ends up being a flop, I think he has a enough name recognition that he'll land on his feet somewhere.
I guess time will tell. He could be the "Opie & Anthony/Stern" of CNN+, and do well for himself, but surrounded by shows hosted by people that nobody's ever heard of.
Or CNN+ could take off in a big way, and he will have gotten in on the ground floor.
In any case, he's a multi-millionaire, so early retirement is always an option too. (and probably the one I would take if I were in his position lol)
