Regis Philbin quit his show after execs told his agent they would cut his salary when his current contract expired ... sources tell TMZ. 
Sources connected with the show tell TMZ ... 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.
Sources say Reeg is currently pulling in between $18 and $20 million a year.
Regis, we're told, was angry at the offer and that was the trigger for his announcement this week that he's leaving the show.
TMZ first reported ... Regis told Kelly Ripa about his decision 15 minutes before they went on the air. Initially we were told she was stunned but not angry. Now we've learned she was furious -- partly because, as one source says, "She felt it showed a total lack of respect for her."
We're told the entire production team is angry at Regis because they feel he hurt the show by blindsiding everyone.
As for Regis' agent, Jim Griffin, Reeg fired him. We're told Regis feels Griffin did not negotiate the upcoming deal effectively.
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Geez, retire and enjoy that money, old man. You can't take it with you.
pulling in 18-19 million a year... so what's the pay cut bring it to, 14-15 million??
This makes me lose respect for Regis. Who would have thought he was such a diva. Does he not understand the relationship between the show's performance and its income?? Ha seriously
and the fact he fired his agent.... for not negotiating the deal... like the poor guy could do anything except say Regis wouldn't take it. Then he gets axed?? what a ****
The Reeg and Keith, geez ... it's a sad week for the television screen and the viewers who sit in front of them.
What this really boils down to is Regis is 79 years old and doesn't wish to work forever.
Who does? All this nonsense is just speculation. Sources say...Sources tell TMZ. BS. He's an old man now and he want's to enjoy his retirement.
Sheesh. This sort of enhancement is all over the net. Nobody expected him to go on forever doing this until he dies.
If that's true, then I extra don't like Regis anymore..what a ****. But he's old and weird anyway, and I never watch the show cause me makes me all uncomfortable..
That show was long winded and boring. The only time I watched it, was when someone was filling in for him.
Oh so now we get to the truth. Regis has an EGO the size of a freight train! How dare they he's heard saying, don't they know who I am. Time for another shot of alcohol Reeg!
18 - 20 Million a year for mindless chatter, are you kidding me?
It's his time. I don't wake up at the crack of dawn anymore but when I did Kathy and him had that little magic. Kelly is great and all but it's not the same dynamic. They need someone a bit younger now. Time for Regis to enjoy his money now.
Has anyone given thought.. to the fact.. he's 'over the hill' so to speak? NO, I won't say 'grumpy old man', because I am one. Old man... Not Grumpy that is... errr Well, you get it. hahahaha
If this is true, then Regis has lost a lot of respect. I'd be willing to bet they would not have cut his contract much more than four or five million a year...so that would make it about $13 or $14 million. Yeah, it would be tough to get by on that, unless you had a huge, huge ego, which he apparently does. It especially sucks that he blindsided the production team, to say nothing about Kelly Ripa.
from the looks of that picture of Regis, im thinking the next logical show he can do is Live with Regis and The Grimreaper..
I really feel sorry for Regis having to take a pay cut when he's making 18 million annually. Regis, no more manicures. Hey, your numbers are falling, viewers are tired of seeing your face, get over it. Kelly, nice going, all you thought about was yourself. The two of you are not even considering or caring about the production team and their families.
Get rid of the two of them and start over with two new fresh faces.
When you hired her Regis we all knew this was coming, it's her husbands show now not yours.
