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<\/p>\nARN Media has revealed the controversial axing of the Kyle and Jackie O show earlier this year has cost it $26 million in lost advertising revenue due to “brand safety” concerns.<\/p>\n
The company faced an investor backlash at its annual general meeting today, with 90 per cent of shareholders voting against its executive pay report.<\/p>\n
It means the $1.1 million annual salary of chief executive Michael Stephenson will now be under review.<\/p>\n
Two consecutive strikes can trigger a board spill.<\/p>\n
<\/p>\n
At ARN Media’s annual general meeting today, 90 per cent of shareholders voted against its remuneration report. (ABC News: Adelaide Miller)<\/p>\n
ARN share price in freefall<\/p>\n
Over the past 12 months, ARN’s share price has plunged around 52 per cent, to around 26 cents per share, as at 2pm AEST.<\/p>\n
ARN’s revenue for the 2025 financial year was $285 million, down 10 per cent (or $32 million) from the previous year.<\/p>\n
The company now has a market cap of about $81 million.<\/p>\n
How did radio’s most successful duo end here?<\/a><\/p>\n Commercial and community pressures closed in on Australia’s most successful radio pairing.\u00a0<\/p>\n It is facing heated legal battles over its $200 million contract agreements with former presenters Kyle Sandilands and Jackie Henderson.<\/p>\n Henderson left the radio show<\/a> earlier this year after an on-air argument with Sandilands, before the long-running show was axed.<\/p>\n The former co-hosts have launched separate lawsuits<\/a> claiming they were wrongfully terminated<\/a>.<\/p>\n While chair Hamish McLennan declared he would not be drawn into discussions about the pair due to the ongoing court case, he did confirm he had signed a document of support for the presenters during their initial contract negotiations.<\/p>\n Investors voted in favour of Mr McLennan staying on as chair, but not before criticising his leadership.<\/p>\n One investor asked Mr McLennan to reflect on what he believed were his “three mistakes” as chair, which Mr Lennan said was a “loaded question”.<\/p>\n He did however admit the board was not happy with the company’s current financial state and that competing with major tech giants overseas meant it was a very ‘fluid’ environment for Australian media players.<\/p>\n ARN’s revenue for the 2025 financial year down 10 per cent from the previous year. (ABC News: Adelaide Miller)<\/p>\n Chair to invest $500K of own money<\/p>\n Mr McLennan said he would be investing half a million dollars into the company to show his commitment in its future viability.<\/p>\n An investor then asked other board members if they would be doing the same.\u00a0<\/p>\n One board member said he would consider it.<\/p>\n Another investor pressed the board for an apology over the company’s performance in recent months, which was not delivered.<\/p>\n","protected":false},"excerpt":{"rendered":"ARN Media has revealed the controversial axing of the Kyle and Jackie O show earlier this year has…\n","protected":false},"author":2,"featured_media":515609,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64680,84900,33024,258346,64,63,86463,99,7929,257948,72255,53493,6673],"class_list":["post-655746","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-agm","tag-annual-general-meeting","tag-arn","tag-arn-media","tag-au","tag-australia","tag-backlash","tag-business","tag-investors","tag-jackie-henderson","tag-kyle-and-jackie-o","tag-kyle-sandilands","tag-lawsuits"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/655746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=655746"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/655746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/515609"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=655746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=655746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=655746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Inside](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/e6e0be366cbb90eaa083ccb8dcbf2847.jpeg\")
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