With looming job cuts, no one is safe at Nine says an industry insider – even Today host and golden boy Karl Stefanovic.
According to Woman’s Day’s showbiz spy, the 50-year-old returned from a family trip to Noosa last week as news broke that Nine’s CEO Mike Sneesby has stepped down from his role, amid speculation that another round of brutal budget cuts could be incoming as the media company struggles with an industry-wide decline in TV audiences.
Now, speculation is rife that even Nine’s top talent may not escape the extreme cost-saving measures. “Some of Nine’s highest-paid talent, including Karl and Hamish [Blake] are being asked to consider taking pay cuts,” reveals an insider, adding that if they decide not to accept lesser salaries, then they may be replaced by talent willing to do so.
Waiting in the wings is one such candidate – much-loved, four-time Olympian Todd Woodbridge. A favourite of TV bosses, Todd is fast becoming a shining star at the network and polls well with viewers.
A NEW GOLDEN BOY
“There’s a big push to consider Todd as a replacement for Karl at Today. He has catapulted to fame thanks to Tipping Point and was one of the breakout stars in Paris as part of Nine’s Olympic on-air team.
In fact, he did so well that he headed back to Paris to be one of Nine’s team covering the Paralympics – which is one of the biggest signs bosses could be grooming him for a role at Today.
“Todd has made it clear he is open to being paid half of what Karl is making, which means if Karl doesn’t want to do the job for less he may end up with a role at 60 Minutes or even taking over Tipping Point.”
At the beginning of last year, The Australian reported that Karl, who has been on the show since 2005, has an annual salary of $1.5 million, while co-host Sarah Abo, who started in 2023, is rumoured to be paid $800,000 – which would mean that Todd would be looking at a similar salary to Sarah if he gets offered the morning gig.
Adding to Todd’s star appeal, Seven reported huge ratings success after replacing David Koch with sports star-turned-Sunrise host Matt Shirvington, 45, last year.
“The big bosses would be looking at how seamlessly Matt has fit in at Sunrise and thinking Todd could emulate that success with his athlete’s work ethic and personable interview skills.”
Adding to Karl’s headache, our insider says he’s out of favour with the bosses after his performance at the Olympics was met with mixed reviews.
“Karl still polarises viewers with his knockabout clowning around to grab headlines. His commentary at the Opening Ceremony was panned and his and wife Jasmine’s high-flying Paris social media posts angered viewers and annoyed Nine execs.
“He was told to keep his 50th birthday celebrations in St Tropez firmly under wraps, which he did, but Karl is now clearly having to pull his head in when it comes to flaunting his wealth.”
MONEY ON HIS MIND
A pay cut couldn’t come during a more difficult year for Karl, who is amid an expensive house build. In March, Karl and Jasmine, 40, finally got the tick of approval for their lavish $4.5 million renovation on Sydney’s north shore.
“Karl is renting a rumoured-to-be $2000-a-week place in Sydney until they’ve finished renovating,” spills our source.
“He has tried and failed to sell their lavish five-bedroom Noosa property but the market isn’t what it was. This couldn’t come at a worse time.”
