So, who will it be?
Rumours were swirling earlier this year that 2GB radio host Ben Fordham would take on Karl's hosting duties, but according to Ben himself, he has no intentions. "I had a great time on the show with Karl, Georgie [Gardner, co-host] and the team for many years but won't be returning any time soon," he said at the time.
Another frontrunner is Brenton Ragless, who has been covering for Karl whilst he has been on holidays for his Mexican wedding to Jasmine Yarbrough, after filling in for Karl earlier this year.
According to Newscorp, Brenton won over Nine executives with his ‘Un-Sydney Everyman’ style of reporting.
“Brenton has a clear and genuine connection with viewers in Adelaide and across the country. The big question is what it would take to convince Brenton to move to Sydney. Even if he was to be offered the job, would he want to trade an Adelaide lifestyle for a Sydney one?” an insider told Newscorp.
However, we now know that Karl's brother Peter Stefanovic will not be replacing him, as he has left Weekend Today and the Nine Network.
Read Karl's full statement here:
“For the last 14 years I’ve co-hosted the best show on television. I can’t thank Nine enough for the opportunity. I never in my wildest dreams thought I would be good enough to host this grand show for so long.
“Thanks to our viewers mostly, you are what matters most. It’s been a tough time. Thanks for hanging in there. I look forward to seeing you in another capacity at this great Network soon.”