The radio shock jock could be eyeing up a settlement amid the multimillion-dollar dispute – and according to a well-placed source, it will be welcome news for executives at ARN.
Kyle Sandilands is said to be keen to settle with Australian Radio Network (ARN) over fears the multimillion-dollar legal battle could drag on for years.
The 55-year-old is suing his former employer for up to $88 million and claiming he was unfairly dismissed after his $100 million, 10-year contract was terminated by the network.
News.com.au now reports that reality has set in for the radio shock jock, who has realised that even if he has his day in court in October as scheduled, there’s potential for the judge to only reach a verdict in early 2027.
Kyle Sandilands is said to be keen to settle with Australian Radio Network (ARN) over fears the multimillion-dollar legal battle could drag on for years. Picture: NewsWire / Nikki Short
Even if that decision works in Sandilands’ favour and he wins, both he and ARN will have the opportunity to appeal, thus lengthening the legal fight over several more years.
The length of the process is said to have motivated the radio star to want to put an end to the lawsuit sooner rather than later and get back on the airwaves.
Furthermore, an insider has told the publication that a settlement would be welcome news for ARN, which is feeling the pressure to “sort it out” fast with Sandilands.
“No one is going to invest in a company that has this hanging over their heads, and the shareholders want a settlement,” a well-placed source told news.com.au of the publicly traded company.
ARN’s share price has taken a dip since axing The Kyle and Jackie O Show and terminating Sandilands and his former co-host Jackie Henderson’s deal.
The company’s share price in April last year was 60 cents, and its value was a whopping $180 million.
Flash forward to now, ARN’s shares are trading at 39 cents, and its market capitalisation is around $93 million.
ARN declined to comment. Sandilands has been contacted for comment.
ARN’s share price has taken a dip since axing The Kyle and Jackie O Show and terminating Sandilands and his former co-host Jackie Henderson’s deal. Picture: Supplied
Earlier this year, The Kyle and Jackie O Show was axed by ARN after the co-hosts had an explosive on-air fallout on February 20 and Sandilands was sacked over a “breach of contract”.
While Sandilands has admitted to being tough on his former co-worker, his lawyers have argued that KIIS FM encouraged his behaviour because the material made the network money.
Henderson is claiming her dismissal breached workplace rights as she was fired after bringing up workplace safety concerns.
ARN has filed a counterclaim against the former radio duo, alleging they breached their 10-year contracts, resulting in the network losing advertising revenue.
The trial is set to start on October 12 at the Federal Court and will span two weeks.