According to gossip website showbiz411.com, Barbara Walters, who is at the helm of the series, thinks that the 47-year-old ‘Blue Lagoon’ actress would be a great addition and is eager for her to take over one of the vacant spots, Contactmusic reported.
Sources revealed that Barbara wants Shields to join the show because the actress has two children, is a Princeton graduate, "very articulate" and also has great connections in Hollywood.
It is said that the actress, who previously acted as a guest host, is in final negotiations to join the show next season alongside Whoopi Goldberg, Sherri Shepherd, and Barbara.
Elisabeth was axed from the series on as she was deemed to be ‘‘too extreme and right wing’’ in a recent audience poll, according to Us Weekly.
But a spokesperson for the series said she has a "long term contract."