Karl Stefanovic Mulls Today Show Exit for Radio

's future at Channel Nine is under fresh scrutiny, with reports claiming the veteran presenter is weighing up a shock move into commercial radio.

According to The Australian's Media Diary column, the Today show host has 'signed a memorandum of understanding' with radio giant ARN, paving the way for a potential switch once his current Nine contract expires in December.

The report suggests Karl is already eyeing a major name to join him behind the microphone, with former Project host  tipped as a possible co-host. 

Bickmore currently fronts a national drive program on the Hit Network.

ARN's newly appointed chief executive Michael Stephenson is also said to be targeting a string of high-profile Australian media identities as part of a broader talent overhaul, including , Ray Hadley, and Erin Molan.

Speculation around Stefanovic's future was further fuelled by entertainment reporter Peter Ford, who shared a bold prediction during a segment on 3AW Breakfast.

'It's certainly been common talk within the industry for a couple of months now - Karl was only signed to a new one-year contract this year,' Ford said.

'I'd be surprised if Karl actually sees the year out to be honest.'

It comes as the veteran presenter and co-host Sarah Abo, 39, embark on what insiders believe could be their final ratings campaign together.  

Some executives are calling for a radical overhaul of Today's long-running format, arguing the show must be 'blown up' and rebuilt from scratch if it's to ever seriously challenge 's Sunrise in the ratings war.

Speculation is already swirling about who could replace Karl in the coveted co-hosting role.

newsreader and newly appointed evening anchor Joel Dry are both said to be in the running for Karl's job – while more ambitious voices inside the network believe Nine may attempt to poach Sunrise star .

The shake-up comes as Karl approaches more than two decades at the helm of the number two breakfast show in the country. 

Despite being partnered with a parade of high-profile co-hosts over the years – including Jessica Rowe, Lisa Wilkinson, Allison Langdon and most recently, Sarah Abo – Today has consistently been beaten by Sunrise under Karl's tenure.

More recently, it was rumoured former Sunrise host Samantha Armytage would be replacing Abo after she defected to Channel Nine as host of The Golden Bachelor.

That plan was ultimately scrapped after Karl convinced executives to give him one last shot at the title alongside Abo. 

Karl recently launched his own YouTube podcast. 

Karl 

'So, I have some pretty exciting news. I have this curious beast that lives inside my head, and I'm about to unleash that beast,' he said.

He reassured fans that as the project is entirely his own, he'd have full freedom over how the show is run.