June 04, 1998 12:00 AM

Kathie Lee Gifford, 47, has been away from “Live!” and TV cohort Regis Philbin (at least on the air) for six months now, and that’s fine with her, she has told New York’s Daily News. “I thought I’d at least have a moments where I missed it, but I haven’t,” Gifford told the paper. “They may come some day. But I’ve been so busy doing what I love doing and having so much fun.” Gifford has filmed an E! Entertainment Television original movie, “Spinning Out of Control,” in which she plays an aging TV star battling pills, booze and her costars. It is set to air March 18. Meanwhile, critics of Gifford are still having a field day over the sales — or rather, lack of them — of her last CD, of popular songs, and the fact that once she left “Live!,” the ratings of the syndicated morning show shot up 26%. They have remained high ever since. Host Philbin and the show’s producer, Michael Gelman, have been bringing on guest co-hosts since Gifford’s departure. “You know what,” said Gifford, “then it was obviously the best thing for both of us.”

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