Recent development according to TMZ that his announcement was because ABC executives wants a pay cut of Regis on his next contract deal. The pay cut was allegedly because of the poor ratings of the morning show as well as Regis' numerous time off.
It was also reported that his co-host Kelly Ripa was furious and she felt not respected by Regis. Not only Kelly but also the entire production team are angry of Regis because they felt blindsided.
Regis Philbin is known from the shows "Who Wants to Be a Millionaire", "Million Dollar Password", and the first season of America's Got Talent.
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