Karl Stefanovic has been axed from the Today show after 14 years.

Karl Stefanovic will not being returning to Today in 2019, the  breakfast program he has hosted for more than 13 years.

The Nine network released a statement this afternoon that read:

“Nine and Karl Stefanovic have agreed it is time for him to step off the Today show.

“Karl remains on contract with the network and will continue to host (his other show) This Time Next Year, which records in February.

“For over 14 years Karl has been at the centre of the Today Show bringing his unique personality and perspective to the day’s news and current affairs.

“An announcement on the new line up and format of the Today Show will be made in the coming weeks.”

The news comes less than 24 hours after Peter Stefanovic announced he would be “exploring new opportunities” and stepping down from his role at Channel Nine.

In a statement, Karl Stefanovic, who is currently on honeymoon in Aspen with his new wife Jasmine Yarbrough, said:

“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.”

Following Stefanovic’s split from Cassandra Thorburn more than two years ago, and the development of his relationship with 34-year-old Yarbrough, Nine saw a significant decline in viewers.

Sources told that Stefanovic had long been a “dead man walking”, as the female audience of the breakfast program had turned on him.

Rumours are circulating today that Sylvia Jeffries will be the next out the door, with entertainment journalist Peter Ford tweeting that the plan is to “redeploy” Jeffries elsewhere.