KIIS FM Kyle and Jackie O: $12m offer to lure radio duo back to Southern Cross Austereo
KYLE Sandilands and Jackie Henderson are about to be offered 12 million reasons to return to the radio network that made them stars.
KYLE Sandilands and Jackie Henderson are about to be offered 12 million reasons to return to the radio network that made them stars.
In a stunning about face, Southern Cross Austereo is putting together a $12 million war chest to lure back the Kyle and Jackie O Show, just 18 months after letting the pair slip through their fingers.
The deal, if successful, would see the top-rating show return to the breakfast slot on the newly rebranded Hit 104.1 2Day network — formerly 2Day FM — in 2017.
It follows what has widely been described as one of the worst decisions in broadcasting history, when SCA failed to agree on terms with Sandilands and Henderson in November 2013, prompting the pair to take up a $10 million offer from rivals Australian Radio Network.
Within 12 months the Kyle and Jackie O Show had lifted KIIS FM and ARN to the top of the Sydney radio market while SCA slumped to their worst year on record, wiping more than $100 million from their market capitalisation.
Contacted this week, Sandilands said “it would take more than money” to get him to switch networks a second time in three years, but added: “I like that figure though — $12 million a year is a nice number.”
But it’s not just about the money. Sandilands, who is contracted to ARN to the end of 2016, said: “I just don’t jump through hoops for money any more. But I’m happy for Southern Cross to throw money at us because whatever they throw, ARN will throw more back so it just drives my price up.”
It’s understood counter offers are already being discussed at ARN, which has undergone a management shuffle in recent days. Former boss Ciaran Davis, who orchestrated the poaching of Kyle and Jackie O, was appointed CEO of APN News & Media on Friday.
Davis, along with former APN boss Michael Miller and content boss Duncan Campbell, pulled off the coup of the decade when they lured Sandilands and Henderson to the newly rebranded KIIS FM, a move which took them to the top of the Sydney market within three months and helped lift all of ARN’s stations to record highs.
Since then SCA has seen the departure of chairman Max Moore-Wilton in February this year, as well as CEO Rhys Holleran, who stepped down in May.
But Sandilands, who famously clashed with Wilton-Moore, denied new management would affect his decision.
“I’m not going to go back to driving an old car just because it’s got a new coat of paint,” he quipped. “Why would I do that? I’ve got much flasher car now.”
SCA declined to comment.
Join the conversation
Premier vows to raise standards of state’s pollies
The at-times vicious NSW parliament “bear pit” is headed for extinction, with a victorious Gladys Berejiklian vowing to clean up the chamber and apply higher standards to the state’s politicians; the Premier’s secret campaign weapon; Labor and Liberal campaigns analysed; and, how the NSW result works in the PM’s favour. ELECTION WRAP
Read more
Liberals used Daley video to their advantage
The Liberal candidate in Kogarah says he “capitalised” on Opposition Leader Michael Daley’s anti-migrant remarks to secure an 8.4 per swing in the primary vote in the Labor stronghold; Mr Daley takes the family to lunch; Bill Shorten says lessons must be learned; and, Labor women praise the Premier.
Read more