- ARN Media (ASX:A1N) extends contracts for Kyle and Jackie O in Sydney until 2034 and Christian O’Connell in Melbourne until 2029
- The Kyle and Jackie O Show will broadcast live in Melbourne on KIIS 101.1 starting in 2024
- New contracts feature incentives, including base fees, revenue share, and sign-on bonuses in ARN Media shares
- $7 million worth of ARN Media shares will be issued to Kyle Sandilands, Jackie Henderson, and Christian O’Connell, vesting at the end of their contract terms
- A1N last traded at 93 cents
ARN Media (ASX:A1N) has made a move to cement its radio dominance by extending the contracts of the individuals fronting its top-rated breakfast shows.
The Kyle and Jackie O Show on KIIS 1065 in Sydney is now secured until December 31, 2034, extending existing arrangements by a decade.
The show will also expand its reach by broadcasting live in Melbourne on KIIS 101.1 from 2024, with the exact date yet to be determined.
Meanwhile, GOLD 104.3’s Christian O’Connell has signed a contract extension until December 31, 2029, adding another five years to his existing agreement.
The revamped contracts aim to align ARN Media more closely with its talent, fostering superior performance through a multi-layered compensation structure.
Base fees, revenue sharing linked to incremental growth, and sign-on bonuses primarily composed of shares in ARN Media are key components of the new arrangements.
These changes, effective from January 2025, are expected to result in a net total increase of approximately $2-3 million per annum.
To replace the previous audience ratings bonus structure, the contracts introduce revenue-sharing arrangements, linking rating success to incremental annual station revenue growth.
Notably, $7 million worth of ARN Media shares will be issued to Kyle Sandilands, Jackie Henderson, and Christian O’Connell, vesting at the end of their contract terms.
“We are fortunate to have Australia’s best radio and audio talent at ARN, and these re-signings are a vote of confidence that Kyle and Jackie O, and Christian O’Connell, will continue to grow their audiences delivering a style of broadcast that makes them so successful,” ARN Chair Hamish McLennan said.
“The contract extensions for Kyle and Jackie O, and Christian O’Connell, reflect our ongoing strategy to invest in, and retain, No.1 breakfast show talent across our network,” ARN Managing Director and CEO Ciaran Davis said.
A1N last traded at 93 cents.