Radio Star Faces Massive Pay Cut Under New Ownership

Ben Fordham, a prominent 2GB breakfast presenter, is poised to be at the center of a significant pay restructuring as Nine Radio transitions to new ownership under billionaire Arthur Laundy. The sale, valued at $56 million, will see the network rebranded as Tapt Media starting May 1. This change is anticipated to trigger a comprehensive review of top earners' salaries as the business moves from Nine's corporate structure to the Laundy family's hospitality empire.

Fordham's contract, reportedly exceeding $1.5 million annually, is due for renegotiation later this year. His dual-income arrangement, which previously included approximately $500,000 a year from Nine's television division despite limited recent on-screen roles, is now under scrutiny. The continuation of this supplementary payment, possibly linked to a podcast arrangement and previously sustained by programs like 60 Minutes, is uncertain under the new management.

Staff at Tapt Media are reportedly discussing a benchmark salary of $180,000, the amount earned by a senior pub manager within the Laundy business. This comparison highlights a significant disparity with current radio salaries and has reportedly prompted internal discussions among executives. Senior Nine Radio executives Tom Malone and Greg Byrnes are believed to collectively earn around $1.5 million, a figure also subject to the new ownership's financial perspective.

Fordham, however, is reportedly keen to remain with the network despite interest from rival media outlets. The recent sale and the integration of a hospitality-driven business mindset signal a potential new era for media-era salaries, moving towards increased scrutiny. This shift follows Fordham's commentary on the contract termination of KIIS FM's Kyle Sandilands and Jackie 'O' Henderson, suggesting their substantial 10-year, $200 million deal contributed to their show's downfall.