L/C should have told Varney, “Sorry, I should have said gutless wimp”...
That would’ve been a perfect retort.
I am certain that Stuart heard in his earphone: “get that guy off the air, quick!”
I think Varney compromised on that. He listened as Peters said, “I apologize”, having given him the chance to take it back or say “sorry”.
A little bit later, he made him apologize again
I wish he’d have used your answer, “sorry, should have said’gutless wimp’”.