I watch Fox & Friends in the morning and they're together in the "Big Studio," separated by maybe 40 feet in a triangle with a cluster of cameras in the middle for 3 different face-shots.
When they talk to each other, they're talking via microphones and earpieces...not directly. If they talked to each other directly, they'd need to almost shout but shouting would over modulate the microphones, earpieces and our TV speakers.
The delay...even in the same room...questions where the microphones are connected...where is the Control Room...and from where is the broadcast signal sent? It could be 3 different buildings if not cities or states. If 1 of the hosts speaks, the audio is routed somewhere, processes somewhere and returned from somewhere to each earpiece.