On Friday, the Los Angeles Times reported that Philbin has fired his agent, Jim Griffin.
"I don't understand what this is all about," Griffin told the Times, saying he was taken aback by Philbin's abrupt departure.
"When I first met Regis, he hadn't worked in a year and a half and here we are," Griffin said, adding, "we've had a great run."
Asked what Philbin might have been unhappy about, Griffin said he did not know. "It's obviously very sad," he sighed.
Meanwhile, TMZ is reporting that Philbin announced he's quitting his Live with Regis and Kelly show because execs told Griffin that his client would have to take a paycut in a new contract. According to the Times, the show is still successful, although its ratings are on the decline and the median viewer age is about 60. TMZ says Philbin was making $18 million to $20 million a year, and was angered by the new contract offer and quit.
Regis Philbin Fires Agent
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