Karl Stefanovic has been rumoured to leave Channel 9, and his Today show successor has reportedly been found.

Sources inside ARN claimed the TV host had recently signed a “memorandum of understanding” with them and could soon “part ways” with Nine, according to The Australian.

His contract with the network is reportedly set to expire in December.

Entertainment journalist Peter Ford has weighed in on the rumours and said he isn’t surprised by the news.

“It’s certainly been common talk within the industry for a couple of months now. Karl was only signed to a new one-year contract this year,” Peter told 3AW Breakfast.

“I’d be surprised if Karl actually sees the year out to be honest.”

Stefanovic has been with Nine for over two decades, and questions have been raised about who would be his replacement.

Insiders told New Idea that 21-year-old university student Chaad Hewitt could be Stefanovic’s replacement.

With a huge social media following and several appearances on the Today show, Hewitt was reportedly “hand-picked” by Stefanovic and “primed” to take over his spot.

“Nine is looking for young talent with built-in fans who actually know their way around a viral trend. That’s the new reality,” the source told New Idea.

“You can’t blame the bosses for thinking outside the box. With Today still chasing Sunrise in the ratings, it’s time to try something new.”

The source added that some of Hewitt’s social media clips have more views than an episode of Today, with the student having close to 700,000 Instagram followers and 500,000 TikTok followers.

This is not the first time Stefanovic has been rumoured to leave Nine. In February the network addressed the speculation and told Yahoo Lifestyle that they were focusing on the year ahead.

“We’re incredibly proud of our Today team and the work they’ve been doing in an already busy 2026 and delighted that, as announced at the Nine Upfronts back in October, Sarah [Abo] and Karl continue to lead the incredible Today team in what will be a big year full of headlines and events that affect the lives of our viewers,” a spokesperson said.

Stefanovic first joined the network in 1994 as a cadet reporter. In 2005 he replaced Today host Steve Liebmann and hosted the show alongside  Tracy Grimshaw, Jessica Rowe, Lisa Wilkinson, and Georgie Gardner up until 2018.

In 2019, Nine implemented an all-female lineup with Deborah Knight and Georgie Gardner., but the following year Stefanovic made his return on the show.

Images: Nine/ Instagram