Karl Stefanovic dumped as Today show co-host by Channel Nine

Article heading image for BREAKING | Karl Stefanovic To Leave Today Show

"Karl, thank you for all the great work".

In a statement, Peter said he had "an fantastic time at Nine being a foreign correspondent, news reporter and covering some awesome stories for 60 Minutes" - notably not mentioning his latest gig on Weekend Today.

The Daily Telegraph is reporting that network executives are now locked in crisis talks over the future of the ailing breakfast program.

Meanwhile, Karl's future at the network now looks uncertain at best.

Peter and Sylvia have just returned from a holiday in Mexico and the US.

A network insider told news.com.au at the time, "I presume (Nine announced Calvert had stepped down) because they needed a scapegoat to appease advertisers". "If Sylvia goes, it'll be her decision".

'For the last 14 years I've co-hosted the best show on television.

Karl and Lisa's lack of friendship became apparent in November, when the brunette was "snubbed" from his Mexican wedding to Jasmine Yarbrough.

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The show's ratings have dwindled over the past 18 months, particularly among the crucial female demographic, who seem to have switched off over his divorce from wife Cassandra Thorburn and speedy rebound with new bride Jasmine Yarbrough.

The brothers endured more negative publicity in March after an Uber driver heard Peter speaking with Karl on speakerphone and sold the story to a magazine.

Channel 9 executives are reportedly in "crisis talks" to dump Karl Stefanovic, possibly as soon as today.

Veteran entertainment reporter Richard Wilkins also gave an emotional tribute to his colleague, with whom he's shared the desk for well over a decade, on Today earlier this morning. In September, it was soundly beaten by competitor Sunrise on Channel Seven.

"Nine's strength has always been in news".

One source told news.com.au that dumping Sylvia Jeffreys would be a mistake.

"Karl Stefanovic has been a co-host of this great show for 14 years and I've had the honour and pleasure, and pressure, sometimes of working alongside him nearly every day over that time, and I can tell you from the heart that there is nobody who has worked harder for this show than Karl".

"The exit of Peter Stefanovic, in the same year as Ubergate, indicate TV execs get the last word".

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