Alicia Barry

See you soon, Michael.

Music and more.

Music and more.

And I'm Alicia Barry, ABC finance reporter and host of The Business on Thursdays.

It's lovely to be here, Carrington.

Yeah, it's really interesting, isn't it?

Because it seems as though time has caught up with Kyle and Jackie O. If you look at the full year accounts, revenue is down across metro and regional.

And of course, as you say, their foray into Melbourne was an absolute flop.

The only space where the company is making money is in the digital space.

Revenue was up 7%.

But if you look at their accounts for the full year, revenue is down 10%.

So this is really hemorrhaging money.

And they were going to pay these guys $200 million over 10 years combined.

They're two years into this contract.

And maybe it comes as a blessing to ARN that they don't have to pay.

At least at the moment, it's in the courts.

this money out to these megastars.

It's a big fall from grace for Kyle and Jackie O. But if you look at the time when Kyle and Jackie O signed the contract with ARN around November 2023, ARN shares were 90 cents.

Today, they're around 26 cents.

And over the course of just this year, the shares are down 34%.