After months of major change surrounding former Today star Karl Stefanovic, a new report suggests he and wife Jasmine are entering a challenging new chapter. And one possible direction now being discussed for Karl could reshape what comes next for them both.

A very different chapter for Karl and Jasmine

For Karl and Jasmine Stefanovic, the past few months have brought one change after another.

Much of the public attention has naturally centred on Karl — his departure from Nine, the uncertainty surrounding his radio career and, more recently, the dispute involving the business behind The Karl Stefanovic Show.

But a new report from New Idea suggests the story may no longer be simply about Karl deciding what he wants to do professionally.

The publication claims the uncertainty surrounding his next chapter is also creating difficult questions for the life he and Jasmine have built together.

Neither Karl nor Jasmine has publicly confirmed that their relationship is in crisis, and the more personal claims in the report come from unnamed sources.

Even so, the developments surrounding Karl have made the question of what comes next increasingly complicated.

Karl’s world changed rapidly after Today

Karl had been one of Australian breakfast television’s most familiar faces for more than two decades when his long-running relationship with Nine came to an end in June.

Nine confirmed on June 26 that Karl would leave the network “effective immediately” following controversy surrounding an interview on his independent podcast.

He had already been expected to leave Today later in the year, but those plans were brought forward.

His radio future also changed shortly afterwards, adding another unexpected turn to what was already becoming a major professional reset.

For a time, the podcast appeared to represent Karl’s clearest path forward.

Then that chapter became complicated too.

The podcast dispute added another layer

Karl is now involved in a business dispute with Keshnee Ibrahim over 123 Podcast, the company behind his show.

Karl and Keshnee each hold a 45 per cent interest in the business, while the remaining stake is held by Anthony Bell’s interests.

The matter has progressed through the NSW Supreme Court, with the dispute now centred in part on the value of Keshnee’s stake and the proposed buyout of her interest. Further proceedings are scheduled for October 13 and 14.

What makes that disagreement particularly personal is Keshnee’s long-standing connection with Jasmine.

Keshnee had been part of Karl’s professional world for years and was also a longtime friend of Jasmine. Earlier reporting described that relationship as stretching back many years before the podcast dispute emerged.

According to New Idea, the falling-out between Karl and Keshnee has also brought that friendship to an end. The publication presents this as part of the wider strain surrounding the Stefanovic family rather than simply a disagreement between business partners.

Jasmine has largely stayed out of the spotlight

While Karl’s professional upheaval has played out publicly, Jasmine has remained comparatively quiet.

That contrast is part of what makes the latest report notable.

New Idea claims questions around income, stability and their family’s future have become increasingly important following Karl’s departure from his previous roles.

The publication also reports that Jasmine is particularly focused on maintaining stability for their family.

Those claims come from unnamed sources rather than directly from Jasmine, so they should not be interpreted as confirmation of a serious problem in the couple’s marriage.

What is clear, however, is that Karl’s circumstances today look dramatically different from the position he occupied only a few months ago.

And now another possible direction is beginning to attract attention.

Could Karl’s next move take him back to Queensland?

According to New Idea, Karl is still considering the possibility of entering politics, potentially in Queensland.

There has been no public announcement from Karl confirming that he intends to stand for political office, so at this stage the idea remains a reported possibility rather than a firm plan.

But if he did choose that path, it could create an entirely different set of decisions for the family.

New Idea suggests Karl could spend considerably more time in Queensland while Jasmine remained primarily in Sydney, where much of their current family life is based.

The idea of Karl spending more time in Queensland is not entirely new.

Long before his departure from Today, New Idea reported in 2025 that Karl had been thinking about eventually returning north and reconsidering what he wanted his family’s future to look like.

What is different now is the context.

He is no longer tied to the same breakfast television schedule, his podcast business is facing uncertainty, and a much wider range of options appears to be open.

One possible move could change the picture again

For months, the biggest question surrounding Karl Stefanovic has been straightforward: what will he do next?

The latest report suggests the answer could matter well beyond his career.

A move into politics remains speculative. Nothing has been formally announced, and Karl himself has not confirmed that such a move is imminent.

But after a period in which so many familiar parts of his professional life have changed in quick succession, even the possibility adds another unexpected element to the story.

For Karl and Jasmine, this new chapter appears to be about more than simply choosing another television, radio or podcast role.

It may ultimately involve deciding what they want the next stage of their life together to look like — and where they want to build it.

For now, that decision remains theirs to make.

Sources: New Idea, October 5, 2026; ABC News; additional reporting on the NSW Supreme Court proceedings involving 123 Podcast Pty Ltd.