Source : THE AGE NEWS
Nine’s departing sales chief, Michael Stephenson, has picked up a new gig at Kyle and Jackie O show owners ARN Media, joining the company as its new chief operating officer.
Stephenson, who announced his resignation from Nine Entertainment (the owner of this masthead) last week after 18 years at the company, lands at ARN as it’s looking to free up cash after signing Kyle Sandilands and Jackie “O” Henderson to a landmark $200 million contract.
Nine’s sales chief Michael Stephenson joins ARN as chief operating officer.Credit: Dominic Lorrimer
ARN owns Kyle and Jackie O network KIIS FM, as well as the Gold Network, which is host to the likes of Christian O’Connell and Sydney duo Jonesy & Amanda.
Stephenson’s appointment in the newly created role caps off a period of unrest at ARN, with dozens of staff leaving the business, the unsuccessful take-over of rivals Southern Cross Austereo and a depressed advertising market.
With ARN’s market share down, its advertising dollars have also struggled amid a wider downturn. For the year until October 30, ARN’s advertising revenue was down 6 per cent, $5 million in total. Competitors Nova (4 per cent) and Southern Cross (1.6 per cent) did not experience losses to the same extent.
The market was down 4.1 per cent overall between January to October compared to 2023. The agency figures were shared with this masthead confidentially.
The launch of the Kyle and Jackie O Show in Melbourne has not yet gone to plan, ending the year on a 5 per cent share.
Stephenson is one of Australia’s most experienced media executives and led the total sales function for Australia’s largest media company for the past eight years.
His exit at Nine came as it continues its search for a permanent replacement for former chief executive Mike Sneesby, who stepped down in September. Stephenson flagged his interest in the top job after Sneesby’s exit; however, acting chief Matt Stanton is widely expected to land the role on a permanent basis.
Stephenson is seen in the industry as a potential successor to ARN chief executive Ciaran Davis, two sources with knowledge of the decision, not authorised to speak publicly told this masthead.
In his note to Nine staff members last week, Stephenson flagged his long-held ambitions to lead an Australian media company.
ARN’s boss Davis said Stephenson’s extensive experience made him the ideal candidate to join the media company’s executive team.
“His deep relationships with Australia’s top advertisers, proven ability to drive share of advertising, and entrepreneurial approach to foster a collaborative, creative, and inclusive work environment align perfectly with ARN Media’s mission to transform audio entertainment in Australia.”
Stephenson, who will join ARN in the first quarter of 2025, said the company was a leader in the Australian audio market.
“They have the biggest stars and the biggest brands. Their commitment to innovation, coupled with their bold vision for the future of audio, is incredibly exciting, and I can’t wait to be a part of it.”
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