Current Event – Regis Philbin retires after 28 years as talk show co-host.

Television legend Regis Philbin announces his retirement, Tuesday, January 18^th after 28 years with, “Live”.   Sources say he made his decision based on a proposed pay cut.  His co-host Kelly Rippa covered for Regis on several medical leaves and many other absences from the show with no decline in ratings.  His $15+ million a year salary is more than double of Rippa’s, so Regis was insulted by the offer presented him under his new contract, significantly lower, from his long time manager, Jim Griffin . He fired Mr. Griffin and decided he would announce his retirement.  Kelly found out only fifteen minutes before airtime, which upset her, claiming Regis made his decision with no respect for her.

Initially, the show began in 1983 on ABC as, ”Live With Regis and Kathy Lee” and later changed to “Live With Regis and Kelly”.  Regis will remain on the show through late summer.  ABC executives say they are already pursuing his replacement, but are unsure if they will replace him with another male host, claiming there would never be anyone to replace Regis.  It is possible the replacement will be a woman closer in age to Kelly and the change will be considered a “new direction” for the show instead of a replacement.

Plans after retirement for the 79 year-old Regis have not been made public.  The viewers will certainly miss him after being entertained by his humor for so long.  Unlike many celebrities that retire and disappear from the public eye, you will be seeing Regis make many guest appearances and possibly begin a new venture after his retirement from “Live”.  It is with anticipation; we wait for further developments from this unexpected announcement.