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Kelly Ripa Signs 5-Year 'Live' Contract

Kelly Ripa (search) will be a "Live" star for five more years, according to the syndicated TV entertainment show "Extra."

Ripa, who landed her co-host role beside Regis Philbin (search) in February 2001, reportedly will be paid about $40 million under her new "Live with Regis and Kelly" (search) contract, or $8 million a year.

"Live" spokeswoman Barbara Warren would confirm only that Ripa had signed a new contract.

Philbin, 72, has two more years on his current contract.

Formerly a cast member on the ABC soap "All My Children," Ripa, 33, succeeded Kathie Lee Gifford on the syndicated daytime talk show, which begins its 17th season this fall.

She will continue to appear in prime time, too, as her ABC sitcom, "Hope & Faith," begins its second season in the fall.