100+ brands fled 2GB after Alan Jones' Ardern comment — Macquarie ordered a review

In August 2019, Macquarie Media's top-rated host Alan Jones told his 2GB breakfast audience that New Zealand Prime Minister Jacinda Ardern should have 'a sock shoved down her throat'. Jones publicly apologised, but more than 100 brands distanced themselves from the radio network, and chairman Russell Tate wrote to advertisers promising a 'full review' of the 2GB/4BC Breakfast Show's content, presentation and controls — a review extending into all 2GB/4BC programs.

Tate's letter conceded the point in plain words: 'we got it wrong in the first place and we must now do everything possible to ensure that doesn't happen again.' He also warned that offended groups could 'greatly amplify their complaints and to actively disrupt' advertisers' own staff. Jones, he reminded clients, had apologised and had not intended harm. In August Tate had already put Jones on notice: one more blunder and the star broadcaster would be fired.

The timing made the boycott expensive. Macquarie was facing a $114 million takeover offer from majority owner Nine Entertainment, and the advertiser exodus was estimated at a $3 million EBITDA hit on an ongoing basis. A PwC report released that week found Nine's offer 'fair and reasonable', valuing shares between $1.44 and $1.66, and shareholders John Singleton and Mark Carnegie were reported likely to back the deal on that basis.

A host threatened a sitting prime minister on air; the control applied afterwards was only a warning that a repeat would get him fired.

Over 100 brands withdrew within weeks; the promised review covered 'content, presentation and controls' across every 2GB/4BC program, not just one segment.

The financial damage landed mid-deal: a $3 million ongoing EBITDA hit complicated Nine's $114 million offer for the 54%-owned network.

Tate's letter framed the incident as a failure of the broadcaster's standards, telling clients the comments 'fell below the community standards expected of us'.

Star talent is concentrated brand risk: one broadcast cost Macquarie over 100 advertiser relationships and forced a network-wide content review that no rating could pay for.

Macquarie commenced the full review of the breakfast show — and then all 2GB/4BC programs — 'with Alan's encouragement and support'. Jones kept his job but stayed on notice that a repeat blunder meant dismissal. PwC's independent report supported Nine's offer price, with the takeover proceeding against the backdrop of the advertiser losses.