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) -- Regis Philbin, 79, announced Tuesday that he will retire from his famous morning talk show this year.

Philbin made his announcement on

Live with Regis & Kelly


Regis Philbin plans to retire this year.

"I don't want to alarm anybody," Philbin said, "this will be my last year on this show.

He said he will step down from the show at some point this year, but he didn't specify a date.

"There is a time that everything needs to come to an end for certain people on camera, especially certain old people," he said.

The veteran broadcaster has been in television more than 40 years. His popular weekday morning talk show began as a local New York morning show in 1983. Kathie Lee Gifford joined Philbin in 1985 and in 1988 the show began airing nationally as

Live with Regis & Kathie Lee


Philbin's current co-host, Kelly Ripa, joined the show in 2001 after Gifford left in 2000.

"I think I can only speak for America and all of us here when I say it has been a pleasure and a privilege and a dream come true,' Kelly Ripa told Philbin this morning. "I wish I could do something to make you change your mind."

Philbin is also known for hosting the popular ABC game show

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Who Wants to be a Millionaire

from 1999 to 2002, as well as the NBC show

America's Got Talent

and the


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game show

Million Dollar Password


Plans for the talk show following Philbin's departure were not specified. However


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owned ABC television group is expected to name a new personality to co-host with Ripa.

-- Written by Theresa McCabe in Boston.

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