ARN Media Limited (ASX: A1N), an Australian media company primarily engaged in radio broadcasting and digital audio content, has announced a binding settlement with Mr Kyle Sandilands. This agreement serves to resolve all outstanding legal proceedings between the parties, including those related to previously announced Federal Court actions. The settlement provides for the full and final resolution of all claims and counterclaims.
Under the terms of the settlement, ARN has agreed to pay Mr Sandilands a cash sum of $12.09 million. This payment schedule will see $3 million disbursed in July 2026, with the remaining balance paid monthly until June 2029. As part of the arrangement, Mr Sandilands and his related entities will no longer provide services to ARN in any capacity moving forward. Mr Sandilands has advised ARN that he intends to pursue independent media opportunities.
To facilitate Mr Sandilands’ new ventures, ARN will provide advertising services valued at $1.5 million over the next three years, utilising ARN’s partner platforms. Additionally, the settlement includes a net revenue share arrangement, entitling ARN to a 19.9% contribution from Mr Sandilands’ new venture for a period of up to three years from its commencement, subject to agreed revenue thresholds and caps. Restraints have also been put in place, preventing Mr Sandilands from engaging with ARN’s direct competitors for a maximum of nine months, expiring in March 2027.
ARN Chief Executive Officer Michael Stephenson stated that the agreement brings certainty for ARN and resolves the legal dispute. Mr Stephenson noted that ARN remains focused on executing its strategy, including driving a leaner, more efficient operating model, strengthening its core radio network, and continuing to invest in digital capabilities and long-term growth. The company also confirmed that legal proceedings with Ms Jacqueline Henderson remain ongoing.
