ARN boss Ciaran Davis is ready to do whatever it takes to get one of the most ambitious media deals in recent memory across the line.
The Australian media sector is gearing up to welcome what could be the most ambitious deal in recent memory, provided KIIS FM owner ARN Media is successful in its bid to absorb rival Southern Cross Media, which owns radio stations Fox, 2DayFM and Triple M.
It’s a trade-off that Davis calls unfortunate. Pure Gold is home to top-tier talent such as Melbourne’s Christian O’Connell and Sydney’s Jonesy & Amanda, but Davis will need to let that go given what’s at stake. ARN is in the final stages of its negotiations with its star duo – Kyle Sandilands and Jackie Henderson – who are reportedly on the cusp of signing a 10-year contract worth $200 million.
ARN Media chief executive Ciaran Davis is ready to do whatever it takes to get one of the most ambitious media deals in recent memory across the line.While it isn’t a ratings juggernaut, Southern Cross-owned Triple M has one key thing going for it. It’s got a direct line to an audience that’s hard to reach – younger and middle-aged men.
Under ARN’s proposed deal, Southern Cross’ podcast network LiSTNR and ARN’s iHeartMedia, the two largest digital audio companies in Australia by some distance, will end up under one umbrella.Meanwhile, a new, privately owned entity would house the leftover radio assets , alongside its underperforming regional television assets.“We’re both losing money at the moment, we’re both on a path to profitability,” Davis said of the digital assets.
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