"I'm very happy to be asked to welcome the New Year on TV," Philbin told "Entertainment Tonight." "It's a once-a-year, one-of-a-kind show, and it's an honor to wish the country a Happy New Year."
The Dec. 31 special will feature all the usual musical performances, celebrity interviews, a look back at 2005 and the descent of the famed New Year's Eve Ball, "ET" said.
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