Yes! You read right. Regis Philbin is leaving his prestigious seat next to Kelly Ripa this summer. Philbin announced Tuesday that he is retiring due to his age.

"It's been 28 years," Philbin said reflectively, "It was the biggest thrill of my life to come back to New York, where I grew up as a kid watching TV in the early days, you know, never even dreaming that I would one day have the ability, or whatever it takes, to get in front of the camera and talk to it."

According to TIME Magazine, "Live!" started in 1988, with Philbin flanked by Kathie Lee Grifford. Kelly Ripa replaced Gifford in 2001.

Philbin has appeared in morning shows since the 1950s.

"There is a time that everything must come to an end for certain people on camera, especially certain old people," the 79-year-old show host joked. Regis is set to leave sometime late this year.

"We'll have a lot of fun between now and then," he promised his audience.

In the past, Regis has dealt with multiple health issues including a hip replacement surgery and a heart bypass.

So, who takes the coveted sit beside Kelly?