Radio star Kyle Sandilands has secured a multimillion-dollar settlement with ARN Media, bringing an end to a legal battle over the termination of his lucrative broadcasting contract.
In an announcement to the ASX on Wednesday, ARN confirmed it would pay Sandilands $12.09 million to resolve Federal Court proceedings stemming from the abrupt end of his employment earlier this year.
The agreement also includes a commercial partnership between the two parties, with ARN committing $1.5 million in advertising support for Sandilands’ new independent media venture over the next three years.
As part of the arrangement, ARN will receive a 19.9 per cent share of revenue generated by the project.
The deal also places restrictions on Sandilands’ future business activities, preventing him from working with ARN’s direct competitors for a period of nine months.
“ARN remains focused on executing its strategy, including driving a leaner, more efficient operating model, strengthening its core radio network and continuing to invest in digital capabilities and long-term growth.”
The dispute arose after Sandilands and longtime co-host Jackie ‘O’ Henderson had their contracts terminated following an on-air clash on February 20, which ultimately led to the cancellation of The Kyle and Jackie O Show on KIIS FM.
While Sandilands’ case has now been settled, legal action launched by Henderson against ARN over the termination of her own contract remains before the Federal Court.
More to come...
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