It comes after revelations Mr Jones’ breakfast show has taken a 50 per cent hit in advertising revenue, which would total about $6 million in annualised terms, following comments he made in August that New Zealand Prime Minister Jacinda Ardern should be given “backhanders” and have a sock shoved down her throat.
Many advertisers boycotted the show following the remarks and the boycott is considered the worst in Mr Jones’ three-decade broadcasting history.
The show is worth less than 10 per cent of Macquarie’s overall revenues.
The remarks, for which Mr Jones has apologised, sparked a public backlash led by online activists Mad F–king Witches and Sleeping Giants Oz. The groups have attacked advertisers who have chosen to return to the show.
The advertisers supporting the bush broadcasts included Clubs NSW, Vodafone, Breakout River Meats, Harvey Norman, The Commonwealth Bank, Network Building Supplies, Mining NSW, Uniden and East Coast Beverages.
Macquarie parent company Nine Entertainment Co, which also owns this masthead, declined to comment.
Newly appointed Macquarie managing director Tom Malone has pledged to try and lure back advertisers after more than 100 distanced themselves from the show in the immediate aftermath.
The boycott has come during a weak advertising market across the media sector, which has resulted in about 90 redundancies at rival Southern Cross Austereo this week.
A spokeswoman for the radio business said the entire sector was “operating in a challenging and difficult market”.
“Management, with the support of the board, have conducted a comprehensive review of our workforce structure to provide an effective and efficient organisation for now and into the future. These proposed changes will impact some of our people,” she said.
“These decisions have not been taken lightly and we are committed to supporting our people as we work through this process.”
Jennifer Duke is a media and telecommunications journalist for The Sydney Morning Herald and The Age.