Karl Stefanovic to buy out podcast partner after 'irreconcilable' split, court told

Former Nine Network Today host Karl Stefanovic and his business partner Keshnee Ibrahim are locked in a court dispute over the future of their podcast company, 123 Podcast. Each owns a 45% stake in the venture, which runs The Karl Stefanovic Show.

The New South Wales Supreme Court heard the case on Tuesday after Ibrahim filed an urgent application on Monday seeking to defer a meeting scheduled for 18 September, fearing she would be removed as a company director. Stefanovic's lawyer told the court his client had agreed not to proceed with the Friday meeting and wanted the court to rule on a buyout as early as next week.

Justice David Hammerschlag outlined two possible paths: winding up the company with a liquidator determining its value, or Stefanovic buying out his former partner. Stefanovic agreed there had been an 'irreconcilable breakdown' in the relationship and that a buyout was appropriate, though he disputed Ibrahim's claim that the company had been run in a way that was oppressive to her interests.

Stefanovic's side asked that any valuation be based on the company's worth before 7 August, arguing that most of the disputed conduct occurred after that date. The judge said he could not yet determine how that date would affect a valuation, and ordered both sides to agree on an independent valuer — which they did after a short adjournment.

A further hearing has been set for 13 October, with the judge expressing hope the matter could be settled.

Background

The podcast has been on hiatus since 24 August. Two months earlier, a controversial interview Stefanovic conducted with far-right figure Tommy Robinson sparked public backlash and led to his removal as Today host. The podcast has drawn about 23 million views on YouTube.