Regis Philbin quit because his pay was getting cut
Regis Philbin's recent announcement that he was retiring from Live with Regis & Kelly wasn't because the 79-year-old talk show host felt his time was up, but rather because ABC thought that. Well, they thought his megabucks contract's time was up, at least.
TMZ says Regis blindsided everyone, including cohost Kelly Ripa, by telling her 15 minutes before the shoaw last week he was done. The reason? Philbin's agent, Jim Griffin, was told by ABC suits that Reeg's salary would be cut after his current contract expires. He's rumore to make somewhere between $18 million and $20 million per year, but even though the show's ratings are slipping and he takes a lot of time off, Philbin didn't think that was fair.
The site says that Kelly and the rest of the show's crew were furious that Philbin just waltzed in one day and said he was leaving. "She felt it showed a total lack of respect for her," a source says about Ripa. Imagine how Griffin feels -- Regis fired him after he couldn't get him up to $20 mil for forgetting people's names and not knowing anything about what's going on 30 weeks out of the year.