WNBC-TV cuts veteran investigative reporter and longtime New York fixture

Veteran New York investigative reporter Sarah Wallace is looking for a new home after WNBC eliminated her job in a cost-cutting move — and she insists she isn’t ready to hang up her notebook.Wallace, who spent about 11 years at NBC 4 after a three-decade run at rival WABC, said the Peacock station decided not to renew her contract and eliminated her investigative reporter position for financial reasons.When reached by The Post on Friday, the longtime television personality said that the station’s decision was unexpected.“It was a surprise,” she said.“I will say that, and I’m disappointed, but I think … the landscape is changing, and I’m excited about what’s to come.In announcing her departure Aug.

28, Wallace made a point to state: “No, I’m not retiring.”The longtime crime and corruption reporter said she is now searching for “the right platform” to continue her investigative work.According to an internal WNBC memo obtained by The Post and confirmed by a station spokesperson, management told staff that the decision not to renew Wallace’s contract and eliminate her position was tied to “long-term financial planning.” The move “was very difficult, but also necessary as we look at our long-term financial planning,” WNBC General Manager Eric Lerner wrote in the Aug.21 memo.

He praised Wallace as “a remarkable reporter and a terrific person,” citing her work on major Tri-State stories and investigations that, he wrote, “resulted in the exonerations of several wrongfully convicted men.”In a note included in the same memo, Wallace called investigative reporting “my life’s passion” and thanked colleagues across the station for more than a decade of work together.“We helped shed light on injustice — and brought justice to where it was long overdue,” she said.“Our work literally transformed lives, and we can all take great pride in this.”Her exit prompted a warm sendoff from former WABC colleague Nina Pineda, w...