Channel Nine has axed Karl Stefanovic from The Today Show, just hours after his younger brother Peter Stefanovic quit the network altogether.

The television star will remain with Channel Nine, hosting his program This Time Next Year.

Nine’s Director of News and Current Affairs, Darren Wick, released the following statement:

“Nine and Karl Stefanovic have agreed it is time for him to step off the Today Show. Karl remains on contract with the network and will continue to host This Time Next Year, which records in February.

“For over 14 years Karl has been at the centre of the Today Show bringing his unique personality and perspective to the day’s news and current affairs.

“An announcement on the new line up and format of the Today Show will be made in the coming weeks.”

Karl Stefanovic has responded to the decision with a statement of gratitude:

“For the last 14 years I’ve co-hosted the best show on television. I can’t thank Nine enough for the opportunity. I never in my wildest dreams thought I would be good enough to host this grand show for so long.

“Thanks to our viewers mostly, you are what matters most. It’s been a tough time. Thanks for hanging in there. I look forward to seeing you in another capacity at this great Network soon.”

Late yesterday, Channel Nine confirmed Karl’s younger brother Peter Stefanovic has left the network after 15 years.

The Weekend Today host, 60 Minutes presenter and news journalist reportedly left by mutual agreement.

Nine says Peter has decided to explore new opportunities and is “looking forward to spending weekends with his wife”, Today show presenter Sylvia Jeffreys.

ABC News Breakfast Host Michael Rowland paid tribute to his former rival.

Farewell from breakfast TV, @karlstefanovic. Always admired your work, particularly in the field. Enjoy the extra sleep!

— Michael Rowland (@mjrowland68) December 19, 2018