Kyle Sandilands has settled his dispute with ARN Media for a $12m money payout and a promise it is going to assist him launch a brand new media enterprise.
The cash is a fraction of the $85m the previous radio host had been looking for after his abrupt sacking from the community in February, however avoids what threatened to be a expensive and probably damaging trial within the federal court docket.
Sandilands and his co-host on Kiis FM’s Breakfast Present, Jackie “O” Henderson, took separate authorized motion towards ARN after the corporate terminated their 10-year contracts a 12 months in. Henderson’s swimsuit has not but been settled.
The licensee for Kiis FM, ARN Media, mentioned in a press release to the inventory change on Wednesday {that a} binding settlement had been reached with Sandilands. The settlement terminated all claims and counterclaims lodged within the federal court docket.
It additionally severed all earlier ties Sandilands had with the station – he had instructed the court docket he wished to return on air at Kiis FM.
Sandilands is barred from showing on any radio stations which compete with Kiis FM for 9 months, the corporate instructed the ASX.
ARN Media mentioned Sandilands was pursuing “impartial media alternatives” and it had agreed to promote his new enterprise on its radio stations.
The deal features a money settlement of $12.09m, with $3m payable subsequent month and the steadiness payable month-to-month till June 2029.
“Mr Sandilands has suggested ARN that he intends to pursue impartial media alternatives,” the announcement to the ASX mentioned.
“As a part of the settlement, ARN will present Mr Sandilands with promoting companies on ARN’s accomplice platforms of $1,500,000 over the subsequent three years.”
Sandilands will share 19.9% of any income from his new present for 3 years with ARN Media.
Sandilands and Henderson had been looking for $85m and $82m respectively from ARN, and a date had been set down for a single trial.
Whereas the Sandilands matter has been settled, the corporate mentioned the Henderson proceedings stay ongoing.
Henderson is claiming compensation of “at the very least $82,250,000” for the wrongful termination of her 10-year contract. She instructed the court docket she had complained to ARN about Sandilands allegedly bullying her on multiple event.
The authorized stoush started when Sandilands and Henderson had an on-air argument and Henderson took instant depart.
On 3 March ARN introduced the duo’s breakfast present could be taken off-air efficient instantly after Henderson mentioned she may not work together with her on-air accomplice of 25 years.
ARN’s chief govt officer, Michael Stephenson, mentioned the settlement introduced certainty for ARN and resolved the authorized dispute.
“ARN stays targeted on executing its technique, together with driving a leaner, extra environment friendly working mannequin,” Stephenson mentioned.
