Kathie Lee Gifford to replace Regis Philbin on Live?

Sep 9, 2011 at 8:37 p.m. ET

Regis Philbin is gearing up to exit his post from Live With Regis and Kelly – and there are reports that ABC would love Kathie Lee Gifford to fill his spot.

Would you watch Live with Kathie and Kelly? Regis Philbin will be leaving his show Live With Regis and Kelly on November 18th, 2011 – and there have been many speculations as to who would replace him, including Kelly Rippa's husband Mark Conseulos.

Kathie Lee Gifford, Regis Philbin, Kelly Rippa

New reports are suggesting that ABC would love to make ratings gold by bringing back Kathie Lee Gifford, who is currently on the Today show.

"They would love to be able to tempt Kathie Lee back. It would be a huge TV event, returning to the show she started with Regis," an ABC source reports. "Plus, at the end of the day, TV is all about ratings and no one that has filled in for Regis has generated anywhere near [the] ratings or buzz they had hoped."

NBC says that Gifford is currently locked into her contract at Today's Kathie Lee & Hoda. "The folks at Live! are desperately trying to reach the level of success that the 'Today' show has. Their ratings have not been good," a source reports. "Kathie is firmly under contract for NBC."

Tell us: Would like you to see Kathie Lee Gifford return to Live?