After breaking many of the Iran-Contra Affair stories while working at The Associated Press and Newsweek in the 1980s, Parry went on to become a pioneer in online journalism when he launched Consortium News in 1995. During his career, Parry reported from Grenada, El Salvador, Nicaragua, Iran, Israel and Haiti. He worked for Bloomberg News from 2000-2004 and taught at the New York University Graduate School of Journalism. He received the George Polk Award for National Reporting in 1984, The Associated Press Managing Editors Association Award in 1985 for Top AP Reportorial Performance, the I.F. Stone Medal for Journalistic Independence in 2015, and the Martha Gellhorn Prize for Journalism in 2017. He was also a finalist for the Pulitzer Prize in 1985.
Before passing away in 2018, he published several books, including Fooling America: How Washington Insiders Twist the Truth and Manufacture the Conventional Wisdom (1992), Trick or Treason: The October Surprise Mystery (1993), The October Surprise X-Files: The Hidden Origins of the Reagan-Bush Era (1996), Lost History: Contras, Cocaine, the Press & ‘Project Truth’ (1999), Secrecy & Privilege: Rise of the Bush Dynasty from Watergate to Iraq (2004), Neck Deep: The Disastrous Presidency of George W. Bush (2007), and America's Stolen Narrative: From Washington and Madison to Nixon, Reagan and the Bushes to Obama (2012).