"I'm not calling it quits, you understand," he said. "I'm moving on. I'm not retiring. I'm not quitting. I'm moving on."
Philbin is leaving his 'Live!' post after 28 years with the morning program on Fri., Nov. 18. However, he seems to be painting a picture that it wasn't exactly a mutual split. When asked if contract talks had a hand in his exit, Philbin didn't exactly deny the rumors.
"The contractual issue just never worked out," he said, "but I was going to leave before that anyway."
Philbin confirmed the radio hosts' sentiments that the show was making a mistake in letting him go. "Of course it's a big mistake, but Regis is moving on."
No replacement for Philbin has been named, but rumors have put everybody from Kelly Ripa's husband Mark Consuelos to 'Survivor' host Jeff Probst behind the 'Live!' desk with Ripa.
"You don't know how difficult it is to keep a situation going on a show like that that has no writers, that has no meetings," Philbin said. "You just go out there and you do it. I could do that because I've done it for 50 years -- that's the way that I like to do it. But that doesn't mean it's right for everybody else."
One thing Philbin is sure of is this isn't the last you've see of the 80-year-old entertainer. While he doesn't have any projects in the cooker just yet, he's got his eyes set on a new timeslot.
"I don't care about going up against ['Live!'], no," he said. "I'm looking at something else besides 9 o'clock in the morning. Maybe in primetime."
Viewers will recall Philbin dominated primetime while hosting 'Who Wants to be a Millionaire' on ABC in the early 2000s. In September, Philbin told USA Today he shot a pilot.
"There are several things that interest me," he said. "You know these reality shows? I would love to do a real reality show where Regis goes out."
At the time, Philbin said he was waiting to see a final edited version before he committed to the project completely.
Reeg didn't mention the project when the radio hosts asked about his future. "I've got nothing lined up," he told Mojo in the Morning. "I don't want anything lined up, yet. I want to have a few moments of peace alone before I get involved with somebody else."
Tell us: Are you sad to see Regis Philbin leave 'Live! With Regis and Kelly'?
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