Wallace Defends Move to Fox News

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Some eyebrows were raised when ABC's Chris Wallace signed on to become the new host of Fox News Sunday. But Wallace says, the way he sees it, except for Fox, the TV news business seems to be retrenching.

A veteran of ABC and NBC News, Wallace says he is a "a straight newsman" who used to harbor some conceptions that Fox "has a political agenda." But, after studying Fox's war coverage last spring, he concluded that the net's hard news is "even-handed, thoughtful and aggressive."

He knows some news folks gag when they hear Fox's "Fair and Balanced" mantra, but Wallace buys in. He interprets it as: "report honestly and openly but start with an open mind. I can't think of a better credo for any journalist."

By the way, his dad, CBS veteran Mike Wallace, gave his blessing.

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