It was meant to be the start of a new era for Karl Stefanovic – an independent podcast that released him from the restraints of mainstream TV, and unshackled him from a 3am alarm clock.
Instead, The Karl Stefanovic Show podcast has turned into a legal and financial nightmare, threatening to muddy his name and put the nail in the coffin of a three-decade-long career.
After an abrupt pause in new episodes of the show, Karl, 52, now finds himself in a messy legal stoush with none other than his former executive producer, who just happens to be his wife Jasmine’s best friend, Keshnee Ibrahim.
The Supreme Court ruled last week Karl must either dissolve the company, or pay his partner out. “The mounting dramas poor old Karl has had to endure during this recent chapter since he was unceremoniously dumped by Nine back in June is the stuff nightmares are made of,” a source reveals exclusively to Woman’s Day.
“And now he’s facing another mammoth legal battle, this time in the Supreme Court, which will either end badly, or in a win – either way it just means more money and even more grief for him and his family.
“When you actually script blow by blow what’s gone down these past months, from the family pooch brutally attacking a stranger, his ex-wife having one too many swipes at him, to dramas with the house renovation, it’s little wonder the bloke is unravelling.”
Karl’s podcast started out as a match made in heaven earlier this year, when he teamed up with Keshnee. The once great mates, who both own a 45 per cent stake in the podcast, successfully launched The Karl Stefanovic Show. Anthony Bell, Karl’s friend and accountant, holds the remaining 10 per cent.
THE FALLOUT
Then things “got messy,” according to our source.
After several weeks of no new episodes – the podcast has since returned – Keshnee filed an urgent Supreme Court application to stop Karl forcing her out of the podcast business she helped build.
The dispute reportedly comes after Karl allegedly informed Keshnee he wanted full control of his podcast, despite reports she had been instrumental in establishing the brand, and is said to have invested her own money in it.
Last week, Justice David Hammerschlag of the Supreme Court of NSW told both parties there were two options available to them in order to resolve their “irretrievably broken-down relationship” – either agree to a million-dollar buyout or liquidate the company.
“You can’t make this stuff up!” says our source.
And while the legal stoush is murky enough, with the next court date set for October 13, it’s the behind-the-scenes turmoil that’s taken its toll
on Karl and his wife Jasmine.
“All ties appear to have been severed with Keshnee and the two women no longer follow each other on social media.
“The question on everyone’s lips is this – what was Karl thinking and why would anyone sign a contract like that?
“When the fallout came, it came fast. This was to be Karl’s future, his next big opportunity to make a name for himself on a whole new platform. Jasmine is worried sick about what this might mean – is this the end for Karl and his media career, and of their lavish lifestyle she’s grown accustomed to?”
RENO RUMBLINGS
And while the Stefanovics contemplate what’s next – at the time of print, Karl was hiding out on Anthony Bell’s yacht in Europe – there’s also growing concern they may be in rental digs for another two years while their home renovation on Sydney’s Lower North Shore appears to have slowed down.
“Costs have blown out and it’s no surprise they’re missing Karl’s $2.8 million Today show salary. He’s rumoured to need between $100,000 to $200,000 a month from his podcast to stay afloat, and there are whispers he may put his Noosa holiday digs back on the market.
“Being axed by Nine has cost Karl more than just the cash – this podcast was to be his last whistle stop and if it fails he’s got some serious life decisions to make,” explains the source.
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