Story perspectives

ARN Media loses $26.4M, faces shareholder strike, re-elects chairman

5/8/2026

Summary

Story summary

ARN Media lost $26.4 million in FY 2025/26 advertising revenue after advertisers withdrew over the Kyle and Jackie O Show dispute.
More than 90 percent of shareholders rejected the remuneration report, including CEO Michael Stephenson’s $1.1 million salary, triggering a first-strike under Australia’s two-strikes rule.
Chairman Hamish McLennan was re-elected with an 80 percent majority, pledged a $500,000 share purchase and reported that ARN shares fell almost 2 percent to 26 cents.

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Story summary

ARN Media lost $26.4 million in FY 2025/26 advertising revenue after advertisers withdrew over the Kyle and Jackie O Show dispute.
More than 90 percent of shareholders rejected the remuneration report, including CEO Michael Stephenson’s $1.1 million salary, triggering a first-strike under Australia’s two-strikes rule.
Chairman Hamish McLennan was re-elected with an 80 percent majority, pledged a $500,000 share purchase and reported that ARN shares fell almost 2 percent to 26 cents.