Carrington Clarke

different lobbyists about the way that this show was operating.

They said that they were under advertising pressure.

We know that generally the business has been under pressure.

And then you had this very public falling out between customers

Kyle Sandlins and Jackie O, where Jackie O said she couldn't work with him anymore.

There's some dispute about exactly how this all played out.

But effectively, we had this legal action.

Kyle Sandlins wanted to be paid out for the whole contract, more than $80 million.

Jackie has her own legal action afoot with a similar complaint.

They've done this deal.

Carl gets $12 million, basically $5 million a year for the next few years.

But also on top of that $12 million, you get a $1.5 million for advertising for his new independent media enterprise.

We're not sure exactly what that will look like.

I mean, what's your first take on this situation?

And we've seen a big share price bounce in ARN Media, so people seem to be pretty happy with the numbers, even though they're paying him a lot of money to not do much.

Yes, what I did find surprising, though, was that there is a no-compete clause locking him in, but it is only in place until March 2027, which I would have thought, given that Jackie O and Kyle Show, they managed to take it from one FM station here in Sydney...

pull it across to a new one, took their entire audience with them and completely changed the fortune.

It's like, you know, they are draw cards.

Kyle is a draw card in the radio space.

Do you really want this man, potentially a free agent, potentially able to go to one of your competitors?