© Getty / Don ArnoldGetty / Don Arnold
In an interview with the Sydney Morning Herald, Karl Stefanovic officially confirmed his return to the Today Show in 2020.
"Yes, I am as shocked about this as everyone else," he said, "it's a big job with enormous pressures and I know only too well some of those pitfalls, but it is also without question the best live TV job in Australia."
Although current co-host Deborah Knight is expected to continue with the show until Karl and Allison Langdon take over next year, Georgie Gardner confirmed to 9Now that she would be leaving the position immediately.
"I was consulted two weeks ago about the future direction of the Today Show, and naturally I'm disappointed with the outcome," she shared with the publication.
"However I'm very proud to have been part of an innovative and progressive programming decision - the first female hosting duo in Australian breakfast television."
Having left the show in December 2018, it is now widely believed that Karl is in talks with Channel Nine to return to his plum hosting gig.
If the rumours are indeed true, he would be joining Weekend Today host Allison Langdon in replacing current panelists Georgie Gardner and Deb Knight.
According to The Australian, Karl would be required to accept a significant pay cut if he was to be reinstated into the role.
If Karl were to decline the offer, then it is understood he would continue to serve the remaining year of his contract as a contributing reporter on 60 Minutes.
The news comes after the Today Show received its lowest ratings of all time, raking in just 155,000 viewers in five capital cities on November 1 (as reported by The Australian).
Prior to being sacked from the role, Karl served as co-host of the show for almost 14 years. Since leaving, he has continued with the network through reporting for 60 Minutes, as well as hosting This Time Next Year.
Pictures: Lesser-known facts about Karl Stefanovic