Karl Stefanovic’s career with Channel Nine is officially over after more than 20 years on air.
The network confirmed it had parted ways with the TV star, saying it was no longer possible for him to continue hosting the Today show while pursuing his independent podcast.
“Nine Entertainment and Karl Stefanovic have agreed that it is no longer possible for him to continue hosting The Today Show at the same time as his independent podcast,” the statement said.
The 51-year-old was set to leave the Today show when his almost $3 million dollar contract expired this year, but Channel Nine revealed arrangements had changed
“While Karl and Nine had previously agreed he would leave the Today Show at the end of this year, they have subsequently decided he will leave the network immediately,” the statement said.
The departure comes as the star manages a massive property portfolio across Sydney and Queensland that won’t see hime short of cash if he needs it.
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Karl Stefanovic and his wife Jasmine have a healthy property portfolio. Picture: Wendell Teodoro/Getty Images
The Today show co-host launched The Karl Stefanovic Show podcast this year.
Castlecrag
Stefanovic and his shoe designer wife, Jasmine, are currently spearheading a multimillion-dollar redevelopment on Sydney’s north shore.
The couple purchased the Castlecrag property for $3.2 million in 2021. They were initially granted approval for a $4.5 million rebuild in 2024.
The mansion is just 1km away from their previous address. The new house is set to include a lift, wine cellar, television equipment room as well as a surf, bike and tool storage room.
Stefanovic and his wife, Jasmine, are currently undergoing a multimillion-dollar redevelopment on Sydney’s north shore. Picture: Supplied
Noosa
The couple also own a $3.6 million holiday home at Sunshine Beach near Noosa, known as Villa Isabelle.
The three-storey home underwent a lavish renovation designed by Mrs Stefanovic’s sister, Jade Yarbrough.
Despite the high-end finish, the property has struggled to find a permanent buyer.
The couple put the home to auction in March 2022 but it failed to sell. It was later listed for private treaty sale at $7.5m before being pulled from the market.
The five-bedroom home, which features a 7.8m heated pool and private balconies, is now listed in the holiday rental pool.
While it reportedly commanded $3700 a night during Noosa’s peak, the couple has resorted to leasing it for $1000 a night between stays.
The property was the site of a major police search in December 2024 when the couple’s then four-year old daughter, Harper, went missing.
A Polair chopper and neighbours joined the search before the child was found asleep under a chair.
The couple also own a $3.6 million holiday home at Sunshine Beach near Noosa, known as Villa Isabelle.
Cremorne
In 2019, Stefanovic severed his final property link to ex-wife Cassandra Thorburn when their Cremorne waterfront mansion sold for more than $9 million.
The former couple had purchased the home for $8 million in 2016, just months before their separation.
The pair also offloaded a Federation family home in Lindfield for $3.8 million in 2016.
Stefanovic and Thorburn bought the three-level property in 2010 for $2.3 million, having sold their first home in St Ives that same year for $1,285,000.
Stefanovic and ex-wife Cassandra Thorburn sold their Cremorne home for more than $9 million.
The pair also offloaded a Federation family home in Lindfield for $3.8 million in 2016.
Earlier this week, TV executives held emergency crisis talks to determine Stefanovic’s after he hosted far-right figure Tommy Robinson on his podcast, The Karl Stefanovic Show.
The star’s interview with Robinson was removed shortly before reports surfaced that his Nine career was in jeopardy.
Network executives held lengthy crisis talks regarding his independent content.
According to reports, Nine is negotiating departure terms for the host, who has spent 26 years at the network, including 20 years leading the breakfast show.
Stefanovic, currently in London, was reportedly notified by phone, though exit payment details remain unclear.
Nine distanced itself from the independent production, stating it had “no involvement, including in the guest selection and other editorial processes” of the show.
Stefanovic broke his silence after his departure from Nine, declaring “I’m free, truly independent” and thanked viewers for supporting him throughout his 21 years on breakfast television.
— Additional reporting by Kaylee Cranley
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