From a new beginning to a bitter business dispute
When Karl Stefanovic launched The Karl Stefanovic Show earlier this year, it was positioned as the next chapter of his career — a move away from traditional breakfast television and into a more independent digital format.
The project quickly attracted an audience. Co-founder Keshnee Ibrahim, a media and marketing executive, had previously described Stefanovic as a “machine”, praising his ability to maintain an enormous workload while the new venture was being built around his existing commitments.
But months later, the partnership has taken a dramatic turn.
Ibrahim has now launched urgent legal action against Stefanovic, asking the Supreme Court to stop him from removing her as a director of the company behind the podcast.
The court action at the centre of the dispute
Ibrahim filed an application seeking an order preventing Stefanovic from removing her as a director of 123 Podcast Pty Ltd at a meeting scheduled for Friday.
She is also seeking an order requiring Stefanovic to buy her 45 per cent stake in the company at what she considers a reasonable market value.
The move represents a significant escalation between two people who only months ago were publicly presenting the venture as a shared project.
The company was registered in February, with Stefanovic and Ibrahim each holding 45 per cent. The remaining 10 per cent is held by Stefanovic’s accountant and business adviser, Anthony Bell, who is not involved in the dispute.
What happened to the partnership?
According to reports, the relationship between Stefanovic and Ibrahim deteriorated after the publication of an interview with controversial British figure Tommy Robinson.
The interview became particularly significant because it was followed by Stefanovic’s departure from Nine’s Today program.
The episode was uploaded to streaming platforms before being removed within days. Sources on Ibrahim’s side dispute claims that she was responsible for securing Nine’s clearance for the interview, arguing that Stefanovic himself had identified Robinson as a potential guest and was enthusiastic about conducting the interview.
Those competing accounts have become part of the wider disagreement over who was responsible for the decisions that ultimately placed the podcast venture under pressure.
Ibrahim says she helped build the business
Ibrahim’s role in the project appears to have extended well beyond simply producing episodes.
She has a substantial background in television and publishing, having previously worked at Who and Cosmopolitan magazines and held senior digital and video positions at Pacific Magazines.
She also runs August One, a marketing and content agency.
Sources supporting Ibrahim’s position say she helped develop the podcast’s business and content strategy, production, episode planning, platforms, sponsorships, marketing and commercial relationships.
That work was particularly important during the period when Stefanovic was still employed full-time by Nine.
The podcast had been gaining momentum
The dispute is unfolding against the backdrop of a project that had achieved considerable early traction.
The Karl Stefanovic Show built a substantial audience across YouTube and other platforms. Ibrahim herself previously reported millions of views and streams across the show’s first months, along with strong audience engagement.
By the time the dispute became public, the show had reportedly passed 215,000 YouTube subscribers and attracted a number of commercial partners.
But production went into a hiatus in late August, leaving questions about what happens to the venture next.
A very different picture from earlier this year
The current legal battle is a striking contrast to the way the partnership was presented when the show launched.
Ibrahim previously spoke positively about working with Stefanovic, saying the pair believed in what the project could become and that early audience numbers gave them confidence to keep expanding.
Her earlier public comments also highlighted how much work went into building a business around Stefanovic’s existing television commitments.
Now, the future of that business is being contested in court.
A friendship that makes the dispute even more complicated
There is another personal connection running through the story.
Ibrahim is a longtime friend of Stefanovic’s wife, Jasmine. The women reportedly grew up together in Queensland and have remained close for decades.
That means the dispute is not simply a disagreement between two business partners who happened to launch a podcast together. It involves people whose personal and professional lives have been intertwined for years.
For now, the court proceedings will determine how the ownership dispute develops — while the future of The Karl Stefanovic Show remains uncertain.