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Shock Jock's $12M Payday After Contract Dispute
17 Jun
Summary
- Radio host received $12.09 million cash settlement.
- He also gets $1.5 million in advertising over three years.
- A competitor clause prevents him working until next March.
A well-known radio personality is set to receive a substantial AU$12.09 million cash settlement following the early termination of his ten-year contract. The resolution of this legal matter also includes AU$1.5 million worth of advertising across ARN platforms, to be utilized over the next three years.
As part of the settlement, the radio host is prohibited from working for ARN's competitors until March of next year. Additionally, ARN will receive a 19.9% share of his future media ventures for a three-year period.
The dispute arose after an on-air argument with his co-host, which led to the cancellation of their long-running breakfast show. The co-host is also pursuing her own legal action against the company.
Staff reportedly celebrated the show's end, with external observers suggesting a failed expansion attempt may have influenced the company's decision to end the lucrative contracts.
