ARN Media has signed Karl Stefanovic and Eddie McGuire for a new three-hour news, sport and entertainment show to run every Friday.

The signing comes in the wake of Kyle Sandilands and Jackie Henderson suing ARN over the fallout from the star duo’s tumultuous breakdown.

Stefanovic and McGuire’s new show, The Long Weekend, will go out on radio, live radio streaming, podcast, free-to-air and subscription streaming platforms, beginning June 19.

“Karl and Eddie are two of the biggest stars in Australian media and they are now at ARN,” ARN chief executive Michael Stephenson said.

The ARN boss said the new show personified the company’s strategy of getting “premium audio and video content” across every platform.

“ … amplified on social and distributed across the globe on the iHeart Network. This is going to be brilliant,” Mr Stephenson said.

Broadcasts will go out on the GOLD radio and digital radio network, iHeart radio, 9Now, Stan and JAM TV – the latter of which is McGuire’s production company.

The deal includes ARN and McGuire Media doing a sports podcast too.

Stefanovic negotiated with employer Nine for three years to get his own podcast up and running. His self-titled show has featured interviews with Pauline Hanson, Barnaby Joyce, Matt Canavan, Clive Palmer, Kyle Sandilands and neurosurgeon Charlie Teo in its first three months.

In a statement on Tuesday, Stefanovic said he and McGuire were long-time friends and the industry veterans would “disrupt the status quo”.

“We are both ready to disrupt the status quo and let me tell you, we’ll have plenty of fun along the way. God, don’t we all need that,” Stefanovic said.

“ARN have given us this opportunity, now watch us go and have a proper crack.”

The show will go out on the GOLD network on Fridays from noon to 3pm.

“Since I was born, I’ve been a student of radio and announcers. The intimacy of the medium is powerful,” Stefanovic said.

“Working with Eddie makes it even more exciting for me. We’ve been friends for a long time.”

There has been speculation within the media industry about whether Stefanovic will leave Nine and the Today show when his mammoth contract expires.

The new show with McGuire will be streamed on Nine’s 9Now and Stan, keeping the breakfast TV host within the media stable.

Nine’s streaming and broadcast managing director Amanda Laing said the pair were both “great broadcasters”.

“Nine has a deep commitment to audio through podcasting and vodcasting and it makes perfect sense for two of Nine’s talent to have their new show streamed on their home network,” she said.

McGuire is also already under contract with Nine, and the company said both “respective commitments with Nine remain unchanged”.

Stefanovic’s contract with Nine is rumoured to be more than $2m a year and expires in December.