ARN Media signs Stefanovic and McGuire amid Sandilands/Henderson lawsuit fallout
Consensus Summary
ARN Media has signed Karl Stefanovic and Eddie McGuire to host *The Long Weekend*, a three-hour multi-platform show debuting June 19, 2026, amid financial strain from a $160–170 million lawsuit by former stars Kyle Sandilands and Jackie ‘O’ Henderson. The show will air on GOLD radio, streaming platforms like 9Now and Stan, and iHeart Radio, marking ARN’s push into cross-platform content. ARN’s revenue declined by $32 million in 2025, and the company lost $22 million in ad revenue due to boycotts of the now-cancelled Kyle and Jackie O Show. Stefanovic, Nine’s highest-paid journalist at over $2.8 million annually, will remain with Nine while expanding his reach through the new show, which also includes a sports podcast collaboration with McGuire’s production company. ARN CEO Michael Stephenson, a former Nine executive, is positioning the move as part of a broader strategy to shift from traditional radio to premium digital content, though critics question its long-term viability given ARN’s financial struggles and the show’s potential audience mismatch with GOLD’s demographic.
✓ Verified by 2+ sources
Key details reported by multiple sources:
- ARN Media signed Karl Stefanovic and Eddie McGuire to host *The Long Weekend*, a three-hour show on Fridays from noon to 3pm starting June 19, 2026.
- The show will air on ARN’s GOLD radio network, live radio streaming, podcast, 9Now, Stan, and iHeart Radio.
- ARN faces a $160–170 million payout risk to Kyle Sandilands and Jackie ‘O’ Henderson over their terminated contracts, with legal action ongoing.
- ARN reported a $32 million revenue decline in 2025 and aims for $55 million in cuts by 2027.
- ARN lost $22 million in ad revenue due to advertiser boycotts of the Kyle and Jackie O Show.
- Michael Stephenson, ARN’s CEO, previously worked at Nine as chief sales officer and has hired multiple Nine executives to ARN.
- Stefanovic’s contract with Nine reportedly pays over $2.8 million annually and expires in December 2026.
- Stefanovic launched an independent podcast in 2026, interviewing figures like Pauline Hanson, Barnaby Joyce, and Kyle Sandilands.
- ARN will collaborate with McGuire’s production company (JAM TV) to produce a sports podcast for iHeart.
Points of Difference
Details reported by only one source:
- ARN terminated Sandilands and Henderson in March 2025 after signing them to $100 million contracts in 2023.
- Stephenson’s decision to axe the Kyle and Jackie O Show ended up being financially beneficial to ARN.
- The show will initially test on GOLD before potentially moving to KIIS FM’s breakfast slot in 2027.
- ARN’s revenue is 80–90% dependent on FM radio, despite its push into short-form video and cross-platform content.
- Stephenson’s strategy is compared to a ‘retrograde leap’ to a pre-Mulray era of radio.
- Stefanovic and McGuire have never worked together before, despite being friends for decades.
- ARN tried unsuccessfully to acquire Triple M in 2023, which is now experiencing ratings recovery.
- ARN confirmed revenue loss of $22 million due to advertiser boycotts of the Kyle and Jackie O Show.
- Stefanovic’s podcast has amassed over 100,000 YouTube subscribers in its first three months.
- Stefanovic and McGuire were close to signing the deal before finalizing it.
- Nine’s streaming and broadcast executive Amanda Laing stated the show aligns with Nine’s audio commitment.
- Nine’s ownership of *The Sydney Morning Herald* is noted in the context of the deal.
Contradictions
Conflicting information between sources:
- Newscomau states ARN faces a $170 million payout risk to Sandilands and Henderson, while the Guardian reports $160 million.
- Newscomau claims ARN’s revenue was down $32 million in 2025, but the Guardian does not mention this specific figure.
- Newscomau suggests the show may move to KIIS FM’s breakfast slot as early as next year, while other sources do not specify a timeline beyond testing on GOLD first.
- Newscomau implies Stephenson’s strategy is risky and retrogressive, while the Guardian and ARN statements frame it as innovative and strategic.
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The veteran broadcasters will do a weekly three-hour-long show on ARN network Gold and Nine’s streaming platforms.