Regis Philbin is touting a "major announcement" that is thought to be about News Corp.’s yet-unannounced plan to transform its Speed channel into a national sports network called Fox Sports 1, reports Deadline.com.

The announcement is expected next Tuesday, March 5. News Corp. Chief Operating Officer Chase Carey has called the company’s plans for Speed the “world’s worst-kept secret,” the piece notes.

Philbin has reportedly been negotiating to lead a panel on the network — a format similar to "The View" with Barbara Walters, but on a show that would focus on sports.

As we reported earlier this month, News Corp. appears to be positioning the new network as a challenger to ESPN.