ARN Media, the owner of the Pure Gold network and Kyle and Jackie O Show’s KIIS FM, has bumped up its offer to take control of Southern Cross Austereo – and said it will dump its rival’s chairman if it can.

After a five-month stalemate between the two media companies, kicked off in October when ARN teamed up with private equity firm Anchorage Capital Partners, ARN has agreed to increase the scrip portion of its offer.