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I would guess more so the latter.

Fox has been going more to the right for a few years now, but CNN has really been fading out especially with the recent scandals hitting Chris Cuomo and Don Lemon. Their core audience is older centrist-leaning folks and securing someone like Chris Wallace may help them bring over some center-right viewers from Fox.

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> Fox has been going more to the right for a few years now

A few decades now...

I used to think of CNN as fairly centrist (or at least more "straight news"), but haven't they leaned pretty heavily into the hard-left lately, especially with moving to more opinion-based shows? It doesn't seem like it's very controversial to say that Cuomo, Lemon, and Stelter are pretty obviously leftists?

Maybe this is an omission from CNN that moving to the left with opinion shows was a mistake and represents a move back to hard news again. Isn't Wallace considered more of a centrist reporter?

Disclaimer: I don't watch Fox or CNN other than occasionally seeing it in an office or when visiting someone's house?

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