Kyle Sandilands is said to be putting out the feelers for a cashed-up investor to help him buy out the Australian Radio Network (ARN).
The radio shock jock, 54, is currently in a huge legal battle with the company after they terminated his $100 million contract and axed The Kyle & Jackie O Show.
Now, reports allege he’s willing to invest $10 million into buying the network, but needs another $90 million to make the deal happen, according to News.com.au.
A source claimed to the publication that Kyle would ideally take over the network and ‘overhaul’ the leadership team.
‘I don’t think he would want to leave things the way they are. He would want his hands on all the levers; otherwise, there is no real point in being an owner,’ they said.
‘He has done every job in radio and he knows what not to do.’
Kyle Sandilands, 54, is said to be putting out the feelers for a cashed-up investor to splash $90 million and help him buy out the Australian Radio Network (ARN)
They also went on to say Kyle was so eager to get back on radio that he would even negotiate a pay cut to his previously massive $10 million a year salary.
‘He would be open to it,’ they said, adding that the terms would have to be right for the industry titan to consider it.
However, according to the insider, there are some wealthy notables who are ‘pretty interested’ in buying ARN with Kyle.
Daily Mail has reached out to Kyle for further comment.
Whispers first emerged the shock jock might be willing to take over ownership of the network last month, before news broke he had been given the boot.
While the radio star was waiting to learn his fate at the network following co-host Jackie ‘O’ Henderson’s departure, he reportedly claimed he intended to buy ARN.
Craig Bruce, who was previously Kyle’s boss when he worked as program director at 2DayFM, announced the news on his Game Changers Radio page in March.
Craig claimed Kyle made comments regarding a potential takeover of ARN during a recent taping of Australian Idol, where the radio star serves as a judge.
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The radio shock jock is currently in a legal battle with the company after they terminated his $100 million contract and axed The Kyle & Jackie O Show. Pictured with Jackie ‘O’ Henderson
‘Update. Kyle Sandilands will be back on the air on Wednesday, if he’s not sacked on Tuesday. And he reckons he’s going to get sacked on Tuesday,’ Craig said at the time.
‘This is intel. I got a DM last night from a listener who was at the Idol auditions and so he said that to either a crowd of people or to a few people [that he] has a plan.
‘If he’s sacked on Tuesday, he’s going to buy the network. He’s either going to be on the radio on Wednesday… or he is sacked on Tuesday.
‘That’s according to Kyle Sandilands himself. The plot thickens.’
It is unclear if Kyle made the comments seriously or in jest.
The veteran radio personality is currently embroiled in a blockbuster legal stoush with ARN, which has now ended up in Federal Court.
Kyle recently commenced action in the Federal Court, alleging that ARN deliberately sabotaged his $100 million contract.
He claimed the altercation with Jackie, 51, which led to his dismissal and the axing of The Kyle & Jackie O Show, could not constitute serious misconduct as such behaviour had been encouraged by his employer.
The pair’s 25-year broadcasting partnership imploded on February 20 when Kyle slammed Jackie over what he described as her ‘fixation’ with astrology.
ARN is reportedly hoping to bring back Jackie at a much lower rate with a new program, after the network also terminated her own $100 million deal last month.
