Karl Stefanovic settles bitter legal battle with former podcast business partner Keshnee Ibrahim in reported seven-figure deal

Karl Stefanovic has finally settled his bitter legal battle with former business partner Keshnee Ibrahim after agreeing to buy out her stake in their podcast company.

The former Today host has reached a confidential settlement with Ibrahim, bringing an end to a dispute that had been due to return to the NSW Supreme Court next week.

According to news.com.au, insiders have suggested the agreement could be worth seven figures, although the financial details have not been publicly disclosed.

The settlement means Stefanovic will take control of Ibrahim's 45 per cent stake in 123 Podcast Pty Ltd, the company behind his independent venture, The Karl Stefanovic Show.

In a statement released on Friday morning, a spokeswoman confirmed the former business partners had reached an agreement.

'Mr Stefanovic and Ms Ibrahim have today agreed to settle the litigation and dispute between them,' the statement read.

'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.'

The statement also confirmed Ibrahim had agreed to discontinue the legal proceedings she launched against the television personality.

The breakthrough comes after Stefanovic was scolded by a frustrated Supreme Court judge over delays in determining the value of the business.

Last week, Justice David Hammerschlag ordered both parties to 'get on with it' after hearing a court-appointed valuation expert needed additional time to prepare a report.

'I'm not putting up with this,' the judge declared, questioning why the process was taking so long.

He also suggested the parties should 'get a better expert' if the appointed valuer was unable to meet the deadline.

'Experts are there for the court, the court is not there for them,' Justice Hammerschlag said.

The judge subsequently ordered both sides to submit their own one-page assessments outlining what they believed the company was worth.

However, the latest settlement means the scheduled October 13 and 14 hearing will no longer proceed.

Stefanovic had been expected to give evidence during the hearing, potentially exposing further details about the podcast's finances and the circumstances surrounding his departure from Channel Nine. 

In September, Monica Allen, for Ibrahim, said that the podcast had originated when Stefanovic had approached her to build and operate the business.

While he was the talent, it is understood Ibrahim did 'the heavy lifting', building a substantial audience, sponsorship and commercial opportunities while Stefanovic was still at Channel Nine's Today Show.

Ibrahim has edited magazines owned by Pacific Magazines and Bauer, and was recently employed as Woolworths' head of content.