Karl Stefanovic to do tell-all radio interview with Eddie McGuire following departure from Nine

Karl Stefanovic is set to return to his radio show with Eddie McGuire to discuss his shock departure from Nine. 

McGuire announced the news on Friday at the beginning of his GOLD FM The Long Weekend show. 

'Karl has finished his round of interviews in London for his podcast and is now taking a holiday overseas,' McGuire said, adding that Stefanovic would speak exclusively on The Long Weekend next week following what he described as 'the most tumultuous few days of his career'.

McGuire explained Stefanovic would not appear on this week's show after requesting leave amid the fallout from his controversial podcast interview with Tommy Robinson on The Karl Stefanovic Show.

He also played reactions from Today co-host Sarah Abo and fill-in presenter Tom Steinfort, before reading statements from ARN management and confirming Stefanovic's exit from Nine.

According to McGuire, Nine and Stefanovic reached an 'agreeable settlement' in the early hours of the morning, bringing to an end his 30-year career with the network.

'He's been one of TV's most versatile performers,' McGuire said, noting Stefanovic's work as a reporter, foreign correspondent and long-time Today host, as well as his coverage of major sporting events, political broadcasts and disaster fundraisers.

McGuire said Stefanovic's move into podcasting ultimately made his role as a free-to-air breakfast television host 'no longer tenable', leading to his departure date being brought forward.

On Friday, Stefanovic declared 'I am free' in a video to fans after it was announced live on air that he has left the Today show and Channel Nine following the fallout from his controversial interview with Tommy Robinson.

His co-host Sarah Abo meanwhile broke down in tears as she announced the news on Friday morning's Today show. 

Abo wept as she said: 'Look, we know there has been a lot of speculation about Karl's future with the show. Today we wanted to inform you that Karl will not be returning to the Today show or to Nine,' she said. 

Fill-in host Tom Steinfort said it was 'no longer possible' for Stefanovic to work on both the breakfast show and his podcast, The Karl Stefanovic Show.  

'As you know, he's been pursuing a podcast project independently of Nine for the past few months, and it's been decided he'll be injecting all of his energy and attention into that, as doing both is no longer possible,' he said. 

Stefanovic is reportedly talking to lawyers about pursuing Channel Nine for wrongful dismissal following his departure from the network. 

Insiders have told news.com.au that he hopes to take a leaf out of Kyle Sandilands' book by suing his former employer for the balance of his contract - and possibly also for reputational damage. 

The TV star, who has been a Nine stalwart for some 25 years, had six months and between $1 million and $1.5 million left to be paid on his 12 month contract.

Sandilands previously made a bid to take legal action against his former employer Australian Radio Network during a separate contract standoff, after tensions escalated over his long-running radio deal.

At the time, the radio host was reportedly considering an $80million claim for the value of his contract after discussions around his position and future direction at the network broke down. 

Sandilands was said to be considering a claim over the value of his contract after discussions around his position and future direction at the network broke down. 

Legal letters were exchanged, and for a brief period it was understood he was prepared to pursue damages for what he believed was the remaining value of his agreement, as well as the manner in which negotiations had unfolded.

However, the matter never progressed to a full court battle. Instead, both sides ultimately reached a confidential commercial settlement, allowing Sandilands to continue his broadcasting career without prolonged litigation or further public escalation.

Meanwhile, In a statement to The Daily Mail, Channel Nine said that they agreed with Stefanovic that he should leave the show 'immediately'. 

'Nine Entertainment and Karl Stefanovic have agreed that it is no longer possible for him to continue hosting Today at the same time as his independent podcast,' they said. 

'While Karl and Nine had previously agreed he would leave Today at the end of this year, they have subsequently decided he will leave the Network immediately.'

Stefanovic was set to resign from Nine following late-night talks on Wednesday with the network over his interview with Robinson.

He uploaded a controversial chat with the British far-right activist to his YouTube channel podcast, The Karl Stefanovic Show, on Tuesday, only to delete it hours later after facing widespread backlash.

Stefanovic, who is on two weeks' leave in London, was told the network 'wanted to part ways'.