Kathie Lee & Regis Out In Hollywood Amid ‘Today’ Talk

Kathie Lee Gifford was caught out with Regis Philbin in Hollywood — as "Today" talk gears up about finding her a new co-host to replace Hoda Kotb!

Officially, Hoda is still Kathie Lee's co-host while also replacing disgraced star Matt Lauer in the first hour of "Today." But a show insider told The National ENQUIRER how that's only temporary: “Hoda will continue to host with Kathie Lee for the next six months, and slowly pull away!"

That leaves Kathie Lee needing a new partner — and some longtime fans are hoping that 86-year-old Regis will spend his final years back with a regular gig! The insider warned that won't work out, though. “Kathie Lee loves Craig Ferguson and Regis,” said the source, “but neither of them are right.”

A National ENQUIRER poll had readers hoping for Jenna Bush Hager to get the slot — but Regis' age didn't keep him from being the close second favorite. While the speculation continues, the "Today" insider added that another candidate can be ruled out: “Andy Cohen is also buzzing around, but he and Kathie Lee have zero chemistry!”