What did Ciaran Davis receive in his final year at ARN Media?
Well, according to the broadcaster’s 2025 annual report, the former chief executive was paid $2,167,689 after stepping down, up from $1,665,804 the year before.
The final remuneration included a significant termination payment, as Davis ended a 16-year run with the company. ARN’s board said he led the business through several major changes, including the launch of iHeartRadio, high-profile talent hires, and the sale of Adshel and the company’s stake in Soprano Design.
Davis also remains a substantial shareholder. According to the annual report, he holds 3,201,688 ARN shares, which were worth about $784,000 based on the last traded price of 24.5 cents.
ARN resets as revenue falls
ARN Media reported revenue of $285 million for the year to December, down 10 per cent. The company said the result reflected a difficult advertising market and changing expectations from marketers.
The broadcaster has since repositioned itself as an entertainment business with digital and radio at its core. Michael Stephenson, ARN Media chief executive and former chief operating officer, succeeded Davis in the top job.
Michael Stephenson during the ARN earnings call. Source: ARN
Stephenson’s base salary is $1.1 million plus superannuation. His total potential earnings could rise materially through short and long-term incentives.
Before joining ARN, Stephenson was an executive at Nine. His remuneration there fell to $1,248,243 from $1,820,118 as bonuses were reduced amid softer market conditions.
Main image: Ciaran Davis