Kyle Sandilands and Jackie 'O' Henderson's 10-year extension with ARN has officially been confirmed, with the radio duo set to make extra cash through a deal that will give them a percentage of extra revenue and millions of shares.
Australian Financial Review confirmed the deal on Wednesday morning, revealing the new $200 million contract will take The Kyle and Jackie O Show hosts to December 2034.
The pair was rumoured to be taking their show to Melbourne, with the new deal confirming they will broadcast on KIIS 101.1 as well, replacing the current breakfast show Jase and Lauren.
According to the publication, sources shared that ARN Media will hold an all-staff meeting on Wednesday at 8am to announce the news.
ARN has also re-signed their top-rating Melbourne-based host, Christian O'Connell, for five years.
The three hosts' salaries will include a base salary, a percentage share of revenue, and a sign-on bonus, mostly made up of shares. Their combined salaries will increase by about $2m to $3m, with ARN saying the salary increase will be offset by cutting some costs by replacing the current Melbourne breakfast hosts with Kyle and Jackie O.
"Love us or loathe us, Jackie and I will be continuing with our politically incorrect nonsense for a long, long time," Kyle said in a statement. "Speaking of 10 years... 10 years ago the ‘other’ network we were once at told Jackie and I that we were past our used by date and no longer relevant. So that’s a fun little observation that’s worth mentioning on such a momentous day."
Jackie agreed, adding, "It’s an honour to broadcast to Melbourne again after so many years, and to welcome them back to our craziness is really exciting. After 23 years of broadcasting with Kyle, I still pinch myself that our show continues to grow in ratings and in reach."
Following reports the radio hosts would be signing a $200m contract, Kyle revealed earlier this week that the reports were actually "underquoted" while hitting back at his radio 'rival' Ben Fordham.
“You know how Jackie and I are in the middle of our big renewal of contracts?” he said. “You might have read in the newspapers some underquoted values. It’s never right.
“Even Ben Fordham was making comments, and this goes to show how little Ben Fordham knows about media. He said Kyle makes up the amount of money he’s on. He invents it and everyone thinks it’s real.
“Now Ben, let me just tell you, I’m not inventing the money. The money is real. This is what happens at a real radio network. I know how much he’s on, I helped him with his deal. He signed up for $1 million a year which is a lot of money, but nothing compared to what I earn.”
Kyle mentioned his salary again later in the show and confirmed that the reported $200 million figure is “actually less than we’re going to get”.
“What I’m doing is correcting the narrative of false news,” he said, while Jackie responded, “Who cares? This is a battle of the egos here”.
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