Karl Stefanovic has settled a lawsuit brought by the co-owner and producer of his eponymous podcast just days before the pair were set to front court.
Stefanovic’s now former business partner Keshnee Ibrahim created The Karl Stefanovic Show earlier this year as he began his final year as host of the Today show on Channel 9.
However, after Stefanovic interviewed British right-wing activist and convicted criminal Stephen Yaxley-Lennon, who goes by Tommy Robinson, he was stood down by Channel 9 ahead of schedule.
On 24 August, The Karl Stefanovic show stopped publishing content, resuming again nearly a month later. Its sponsorship deal with clothing brand Ringers Western, which was due to end in September, was brought forward into August.
The Australian Financial Review has reported Stefanovic and Ibrahim’s relationship broke down in August, in part because Stefanovic blamed her for him losing his role at Nine.
Stefanovic and Ibrahim set up The Karl Stefanovic Show under a company called 123 Podcast. Each held 45 per cent of the company, the remainder is held by Stefanovic’s accountant Anthony Bell.
A spokesperson for Stefanovic said:
“Ms Ibrahim and Mr Stefanovic have today agreed to settle the litigation and dispute between them in relation to 123 Podcast Pty Ltd and The Karl Stefanovic Show.
“While the terms of this settlement are confidential, the arrangement results in Mr Stefanovic acquiring the interests of Ms Ibrahim in the company and Ms Ibrahim exiting the company as a shareholder and director,” said the spokesperson.
“Ms Ibrahim has also agreed to discontinue the litigation she commenced against Mr Stefanovic.”
Stefanovic’s barrister, Samuel Murray, told NSW Supreme Court judge David Hammerschlag last month there had been “an irreconcilable breakdown of relationship between the parties”.
Court documents revealed that Stefanovic wanted to remove Ibrahim as a director of 123 Podcast. Ibrahim’s lawyer described as “oppressive” and “unfairly discriminatory”.
Sources who spoke anonymously to the AFR said that paid Ibrahim the value set by FTI Consulting managing director Michael Kanan.
This settlement means that Stefanovic and Ibrahim will not have to face court on Tuesday and Wednesday next week.
