Reports are now saying that TV legend Regis Philbin is not really happy with his decision to retire from Live with Regis and Kelly. Apparently, Regis quit after executives told his agent that he will be getting a much lower salary paycheck when his current contract expired.
According to TMZ, a source says that 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."
Regis was very unhappy with the development, so he decided to quit from the show. New reports are popping up that his co-host Kelly Ripa and the entire production team are angry at Regis because they feel that Regis blindsided everyone with his announcement. BTW, Regis also fired his Agent for doing a bad job in negotiating his upcoming contract.
Regis, who will be turning 80 in August, has been making between $18 and $20 million a year.
