There has been speculation rival broadcasters like News Corp’s Sky News could make a play for the controversial radio personality who already provides commentary for the News Corp-controlled broadcaster.
However Macquarie sources are doubtful the news channel would offer a salary competitive with his current contract worth millions of dollars a year.
The Daily Telegraph, which is owned by News Corp, reported on Sunday that Macquarie had offered Jones a $2 million salary that the newspaper claims represents a 50 per cent pay cut.
Sources close to Macquarie dispute this claim calling it “complete fiction”. Macquarie is controlled by Nine Entertainment Co which owns this masthead.
Jones has been represented in the discussions with the radio network by two lawyers and former Racing Australia chairman John Messara.
Jones is a controversial figure and was forced to apologise in October after a heated interview with Opera House chief executive Louise Herron.
He faced an advertising boycott after he used a racial slur in August and was previously at the centre of the largest defamation damages payments in Australian history.
Nine Entertainment Co has a 54.5 per cent shareholding in Macquarie and has considered buying the remaining shares it does not yet own.
Lachlan Murdoch’s investment vehicle Illyria raised the prospect of transferring its Nova FM stations to Nine, as previously reported by The Age and The Herald, in exchange for Nine’s ownership of AM radio talk stations like 2GB and Melbourne’s 3AW.