The Real Reason Regis Philbin Is Leaving 'Live'?

Regis Philbin is causing mayhem over leaving his post on "Live." Initially, Philbin claimed he was retiring, but TMZ is now reporting that he left due to a scheduled pay cut after the talk show host's current contract expires.


Executives at ABC decided a smaller salary would be in order since Reege takes a lot of time off and because the show has not performed as well in the ratings. Regis' current yearly salary is between $18 and $20 million.

Before announcing his decision to leave, Philbin informed co-host Kelly Ripa 15 minutes before they went on air. At first, Ripa was not angry, but now sources say she's livid. Says one source, "She felt it showed a total lack of respect for her."

Not only is Kelly upset, the "Live" production team is also not happy and felt he damaged the show with the sudden news.