Variety is reporting that Regis Philbin has signed on with CBS to host a million-dollar version of the hit ’60s gameshow Password. The new series will be called Million Dollar Password and will, as the title suggests, offer a million dollar grand prize. Six episodes have been ordered and will begin airing later this season. The show will combine elements of three incarnations of the Password game – Password, Password Plus and, yes, Super Password. But I think we can all agree that any host is better than Burt Convey.

For those of you who don’t remember what Password is all about, let me refresh your memory. Two teams comprised of an average Joe and an out-of-work celebrity take turns giving their teammate one-word clues in hopes that they can figure out the secret word. This updated version of the game will give the winning team the option of risking their winnings in a million-dollar bonus round. The question on everyone’s mind is, however, what washed-up celebrity will have his/her career temporarily resurrected by this game show? It worked for The Hoff!

Note to CBS Executives: Avoid making the same mistake that was made with Regis’ last million-dollar gameshow – if the show is a hit, don’t put it on every single night of the week. As you may remember, the hugely popular Who Wants To Be A Millionaire (which debuted in 1999) was extended from 1 or 2 days a week to every weeknight which effectively destroyed the show’s novelty. It is true – you can have too much of a good Regis!