Nowhere to go? Channel 7 and Network Ten 'privately rule out' hiring Karl Stefanovic - as the fallen Today star 'reaches settlement' with Nine

Karl Stefanovic has proudly declared he is 'free' after resigning from Channel Nine following last week's furore over his controversial interview with British far-right activist Tommy Robinson.

But the former Today host, 51, may be freer than he anticipated, with new reports indicating he may not find a home at rival networks.    

Channel 7 and Network Ten have 'privately ruled out the possibility of hiring 'Stefanovic, The Australian reported on Sunday. 

'Stefanovic is unlikely to front a show on Australian commercial television again,' the publication alleged. 

There is some good news, however, with The Australian reporting that the television host has avoided a court battle with his former employer. 

Nine and Stefanovic are believed to have agreed to an undisclosed six-figure settlement as part of his termination package. 

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

Stefanovic abruptly resigned from the network last week after his interview with far-right figure Tommy Robinson. 

He uploaded the controversial chat to his YouTube channel podcast, The Karl Stefanovic Show, on Tuesday, only to delete it hours later after facing widespread backlash.

The television star, who was on two weeks' leave in London, was told the network 'wanted to part ways' soon after. 

In the wake of his departure, Stefanovic shared a video online declaring, 'I am free'. 

He addressed his Today show fans in the clip, saying the last few days 'hadn't been easy' but he was happy to be 'truly independent' at last.

He sent a message to his Today co-host Sarah Abo, asking her to take care of the Today show team.

'Hey guys, some week, huh? So, I am free. Truly independent. I didn't get the chance to thank my free-to-air audience for 21 great years, so thank you for riding the ups and downs. You have my thanks and have all of my love,' he said.

'To my colleagues, I'll ring you privately, but Sares look after everyone for me. I know they'll miss me desperately, especially Halos and Isaac and Abby and Timmy.

'But everyone there, I look forward to seeing you soon.'

Stefanovic went on to thank the viewers of his independent podcast and stressed the importance of 'freedom of speech'. 

In a statement to The Daily Mail, Channel Nine said that Stefanovic could not continue working at the network while also hosting his podcast. 

'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.'