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I don’t know about you but, I’m a fan of Regis Philbin, but the word on the streets is that he quit because of pay cuts. TMZ reports that the honchos made it clear that 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. Read the entire story here.