The 46-year-old television personality discussed Shields, a onetime candidate for host, The View and the tell-all book Ladies Who Punch during Tuesday's episode of Watch What Happens Live.
"I love her," McCarthy said of Shields. "I think she knows deep that I took one for the team, because let's just face it, that was hell. Hell. So, you're welcome, Brooke."
In addition, McCarthy said she doesn't regret speaking to Ramin Setoodeh, who published Ladies Who Punch: The Explosive Inside Story of 'The View' in April.
"They did kind of slant a little bit more towards Barbara [Walters]," McCarthy said of Walters, the creator of The View. "The newspapers want to get the salacious part, but in the book you hear my admiration for her. I love her."
"They went a little salacious," she added. "That's the only thing I regret -- the headlines, the clickbait."
McCarthy hosted The View from 2013-2014, and called the experience "miserable" in Ladies Who Punch.
"Every day I went home and I was miserable," she said. "It really was the most miserable I've been on a job in my 25 years of show business."