10/03/2011 11:53 am ET | Updated Dec 03, 2011

Regis Philbin: TV Is Not What It Used To Be

As Regis Philbin gets ready to step down from "Live! With Regis And Kelly," he took a moment to reflect on the state of television and his prognosis wasn't the best.

The 80-year old host lamented television's downward decline in an interview with Fox News' entertainment column, blaming cable shows for setting the bar too low.

"It has all been a step down. The cable shows have no boundaries and they can do whatever they want with it, and the broadcasting stations are beginning to look at that and see how it attracts an audience and are beginning to take that step down too," Philbin said, expressing hope that they will hit a "saturation point" somewhere down the line.

As for leaving "Live!" -- a career which he called "the biggest thrill of my life" -- he won't miss the stress of doing each show's opening segment, where he tells viewers about funny things that happened to him. "I worry about the opening segment every day and every night," he said. "I think about what happened to me that day and wonder how I am going to reveal it tomorrow on the show in a humorous way if I can, so that hangs over your head every day when doing this kind of a show."

Philbin also said that one of his regrets was never being able to interview Cary Grant, an actor who he said "was always one who meant a lot to me."

He is ending his twenty-eight year career as the beloved host of "Live" on November 18.

So what's next after that? Philbin said that he is listening to "a lot of different possibilities," including reality television. He cleared up rumors about a reality show pilot, explaining that he did a quick two-minute piece to test it out. "I just wanted to see what it would be like, but I’m not sure if it is for me,” he said.