Chris Wallace announces abrupt departure from Fox News effective immediately — and he's joining CNN (UPDATED)

12:00 p.m. UPDATE: Shortly after Wallace announced his departure from Fox News, CNN announced that Wallace is joining their network.

Wallace is joining CNN as anchor for the network's new subscription platform — CNN+ — that will debut in 2022.

"I am thrilled to join CNN+. After decades in broadcast and cable news, I am excited to explore the world of streaming. I look forward to the new freedom and flexibility streaming affords in interviewing major figures across the news landscape—and finding new ways to tell stories,” Wallace said in a statement. “As I embark on this adventure, I am honored and delighted to join Jeff Zucker and his great team. I can’t wait to get started."

Read the original story about Wallace's departure from Fox News below.

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Fox News anchor Chris Wallace announced Sunday that he is immediately leaving the network.

What are the details?

After working at Fox News for 18 years, Wallace announced his abrupt departure at the conclusion of "Fox News Sunday," the show he has anchored since 2003.

"After 18 years, this is my final 'Fox News Sunday.' It is the last time — and I say this with real sadness — we will meet like this," Wallace said.

"Eighteen years ago, the bosses here at Fox promised me they would never interfere with a guest I booked or a question I asked. And they kept that promise," Wallace continued. "I have been free to report to the best of my ability, to cover the stories I think are important, to hold our country’s leaders to account. It’s been a great ride."

"We’ve covered five presidential elections, interviewed every president since George H.W. Bush, travelled the world — sitting down with France’s Emanuel Macron and Russia’s Vladimir Putin. And I’ve gotten to spend Sunday mornings with you," Wallace said. "It may sound corny, but I feel we’ve built a community here. There’s a lot you can do on Sundays. The fact you’ve chosen to spend this hour with us is something I cherish."

Wallace did not provide many details about why he is leaving Fox News, other than saying he wants to shift his career "beyond politics."

"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," Wallace said.

Before joining Fox News in 2003, Wallace worked at NBC News and ABC News. A source told Variety that Wallace could be headed to CNN.

What did Fox News say?

The network did not provide any additional details about the nature of Wallace's abrupt departure.

However, the network said that several anchors will host "Fox News Sunday" in the coming weeks until a permanent host is named.

"We are extremely proud of our journalism and the stellar team that Chris Wallace was a part of for 18 years," a statement from Fox News said. "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."

Anything else?

Conservative writer Jonah Goldberg said he does not think it was Wallace's plan just one month ago to leave Fox News, suggesting something internal happened to prompt Wallace's abrupt departure.

Goldberg himself left Fox News last month — after working as a Fox News contributor for more than a decade — in protest of host Tucker Carlson.

Editor's note: This story has been updated to include the announcement that Wallace is joining CNN.