In December, Wallace announced his sudden departure from Fox News – where he had been the anchor of "Fox News Sunday" since 2003. Wallace proclaimed that he was "thrilled to join CNN+."
"I just no longer felt comfortable with the programming at Fox," Wallace told the New York Times. "But when people start to question the truth — Who won the 2020 election? Was Jan. 6 an insurrection? — I found that unsustainable."
"Before, I found it was an environment in which I could do my job and feel good about my involvement at Fox," Wallace said. "And since November of 2020, that just became unsustainable, increasingly unsustainable as time went on."
Earlier this week, news broke that Warner Bros. Discovery was pulling the plug on CNN+ less than a month after launching the subscription streaming news service that costs $5.99 a month. A CNBC report released on April 12 stated that CNN's failed streaming service was only receiving 10,000 viewers a day.
Gutfeld basked in the sudden downfall of CNN+ during a recent episode of his Fox News TV show, while also taking potshots at Wallace.
"Okay, so you see Hillary was supposed to come back, you got Bernie, you got Mitt – the Democratic bench is thinner than Chris Wallace's demo reel from CNN+," Gutfeld said on Thursday's episode of "The Five." "I just needed to get that in there."
During the show, co-host Judge Jeanine Pirro recounted how she was "sitting next to a guy who was drunk on a plane and he vomited all over me." Gutfeld jokingly interjected, "Oh my God, was it Chris Wallace?"
Gutfeld ridiculed Wallace during a segment about Black Lives Matter New York chapter co-founder Hawk Newsome’s derogatory remarks about Democratic New York City Mayor Eric Adams.
"BLM has done to black people what Chris Wallace did to CNN+: entice them with a promise and then ditch them on the side of the road," Gutfeld quipped, then informed the television audience, "I'm going to do this every segment, so get used to it!”
Gutfeld used Wallace's own words to criticize him, "Well, to quote Chris Wallace, I don’t think the credibility of this initiative is sustainable."
Gutfeld continued his ruthless verbal assault on Wallace, “Look for independent voices with free time, so I guess that eliminates Chris Wallace."
The rising Fox News star slammed Wallace, "A lot of these solutions coming from the left are unreliable, whether it’s solar panels or windmills. I mean, look at CNN+ and how much money they invested in wind power by hiring Chris Wallace."
Gutfeld has razzed Wallace in the past.
In January 2021, Wallace proclaimed that President Joe Biden delivered "the best inaugural address I've ever heard." Gutfeld reacted by performing an over-the-top parody of Wallace.
"An amazing inauguration, I agree with Chris Wallace," Gutfeld declared. "The greatest inauguration I have ever seen in my entire life! And you know what, I'll even go further than Chris Wallace, it's the greatest inauguration I will ever see! Ever see! I think we should stop the inaugurations! Stop the inaugurations! This is it!"