Chris Wallace announced Sunday that he is leaving Fox News after nearly two decades to work for CNN's new streaming platform.
Wallace, 74, thanked viewers for joining him every week on "Fox News Sunday," adding that he has enjoyed his time on Fox but that it was his time to step away.
"The fact you’ve chosen to spend this hour with us is something I cherish," Wallace said. "But after 18 years, I have decided to leave Fox. I want to try something new to go beyond politics, to all the things I’m interested in. I’m ready for a new adventure. And I hope you’ll check it out."
He said that when he joined the network, Fox News executives promised him that they would not interfere with his work and that they have "kept that promise."
Fox News said in a news release that it was proud of Wallace's work with the show’s "stellar team."
“The legacy of FOX News Sunday will continue with our star journalists, many of whom will rotate in the position until a permanent host is named," the network said.
CNN said in a statement following Wallace's on-air statement that he will join as an anchor on CNN+, a streaming news service that is expected to launch next year. Jeff Zucker, CNN's chairman, said it was a rare opportunity to bring someone of Wallace's "caliber" to a new project.
"He is as fine a journalist as there is in our business," Zucker said. "This speaks volumes about our commitment to journalism and CNN+, and we are thrilled to have Chris on the ground floor of helping us build the next generation of CNN and news."
Wallace, the son of the late "60 Minutes" correspondent Mike Wallace, joined Fox News in 2003 after stints at NBC News and ABC News. He has built a reputation as a tough interviewer, often hitting guests with what some have called interrogation-style grillings.
Wallace covered five presidential administrations at Fox News. He was the moderator of debates in 2016 and 2020, at which many praised his commitment to pressing both candidates with substantive questions.
Despite working for a network known for its conservative opinion hosts, Wallace has often been seen as a journalist who offers substantive examination regardless of party affiliation.
His moderation of a debate last year between then-President Donald Trump and Joe Biden was notable for how often Wallace tried to rein in Trump's numerous interruptions.
“I think the country would be better served if we allowed both people to speak with fewer interruptions," Wallace told Trump. "I’m appealing to you, sir, to do that."