Iconic talk show host Regis Philbin announced his retirement earlier this week. Although he may pursue other television ventures, he will be washing out his coffee mug for Live with Regis and Kelly. People have watched the 79 year old host for years upon years and news of his leaving the show was sad and a little surprising to many of his fans.
While many people just assumed that Regis wanted to spend his mornings in bed or with his wife Joy (as opposed to Kelly and all of America), TMZ has learned differently. "Regis' agent, Jim Griffin, was talking with execs from the ABC station group about a new contract for Regis when his current deal expired. We're told the honchos made it clear ... Regis would be getting a pay cut, partly because the show is not performing as well as in the past ... and partly because he takes a lot of time off."
If this information is true, it makes the situation even more sad and shocking. Regis Philbin is highly successful, well liked, and well respected in the industry. It would be a slap in the face for him to receive a pay cut, not because of the amount of money but just on principle alone. More details are sure to emerge.