ARN Media shares up on 10-year Kyle and Jackie O deal

The news: ARN Media has extended its contracts for KIIS FM radio hosts Kyle Sandilands and Jackie "O" Henderson in a ten-year deal worth up to a reported $200 million. ARN also extended GOLD 1043's Christian O’Connell's contract to the end of the decade. Sandilands and Henderson's deal will see the pair on the radio until 2034.

The numbers: Sandilands, Henderson and O'Connell will receive $7 million worth of shares in ARN Media and, alongside salaries and bonuses, will earn the two KIIS hosts about $10 million a year, according to the Sydney Morning Herald. ARN expects to pay a further $2 million each year in marketing to launch the Kyle and Jackie O show in Melbourne. A1N shares were trading 1.6% higher early in the session, fetching $0.945.

What they said: "The contract extensions for Kyle and Jackie O, and Christian O’Connell, reflect our ongoing strategy to invest in, and retain, No.1 breakfast show talent across our network," ARN CEO Ciaran Davis said in a statement. "They have a unique ability to engage and connect with audiences that continues to thrive despite the growing fragmentation of other media consumption channels."