Kyle Sandilands and Jackie 'O' Henderson sign record $200million 10-year deal with KIIS FM - and their expansion into Melbourne AXES Lauren Phillips and Jase Hawkins' radio show

• READ MORE: Jackie O rushed to hospital with 'heart attack symptoms' 

Kyle Sandilands and Jackie 'O' Henderson have confirmed their historic new radio deal will see them expand to Melbourne.

On Wednesday morning, the Sydney-based radio duo signed a record-breaking $200million, 10-year deal live on-air - keeping them on the airwaves until 2034.

A spokesperson for ARN confirmed to Daily Mail Australia the deal means Kyle and Jackie's KIIS FM work pals Jase Hawkins and Lauren Phillips will be out of a job and their Melbourne breakfast show will be finishing up in December.

Lauren broke down in tears while announcing the news to her listeners on Wednesday, sobbing that she didn't want to 'say goodbye to Melbourne'.

Jase and Lauren's show was successful for KIIS FM, bringing in new listeners for the station and sitting third in the Melbourne market behind Fox FM's Fifi Fev & Nick and GOLD104.3's Christian O'Connell.

In a statement to celebrate the historic contract renewal, Sandilands said, 'Fans of the show will be stoked to hear that this 10-year deal is the longest radio deal in Australian history.

'Love us or loathe us, Jackie and I will be continuing with our politically incorrect nonsense for a long, long time.'

He added, 'We want to thank the listeners. Staff. All the clients. Even senior management, I’ll give a nod to. They actually did something brilliant.'

This means the duo will dominate markets outside their Sydney-based audience and extend their reach into Melbourne for the first time.

It's been reported one unique clause in the contract gives Sandilands the ability to broadcast the show from 'anywhere on the earth'.

The shock jock has often worked on the KIIS FM show from Los Angeles and other places, so the new contract will give the flexibility to continue broadcasting from wherever he chooses.

The groundbreaking $200million deal means Sandilands and Henderson will each earn $10million per year, which is double their current salary of around $5million per year.

According to the Financial Review, Kyle and Jackie's contracts, 'include a base salary, a percentage share of revenue above what is now earned – known as "incremental growth", and sign-on bonuses mainly made up of shares in ARN.'

ARN chief executive Ciaran Davis said expanding Kyle and Jackie's show to Melbourne will 'attract new audiences and expand commercial opportunities'. 

'Melbourne is the largest radio advertising market in Australia and represents an opportunity for ARN Media to grow ratings and revenues on KIIS 101.1,' he said.

'Kyle and Jackie O have evolved into a powerful brand that significantly contributes to ARN’s commercial success, and this new agreement strategically positions us for long-term growth that extends beyond radio.' 

Jackie celebrated the exciting news by sharing a glamorous selfie of herself with Kyle to social media, alongside a gushing caption about their next decade together.

'Can't believe I get to work with this guy for the next ten years,' she wrote.

'How lucky am I? Thanks to our loyal listeners and [ARN] - so pleased to announce we’ve just signed for another 10 years of breakfast radio. What a dream!!!!'

Meanwhile, Jase and Lauren weren't so jovial when they announced to their listeners on Wednesday morning that they were out of a job.

'I spoke to Jackie and the other night and said you are very lucky the people we have listening to this show,' Jase said on his KIIS FM show.

'We all love this city and we have had just an absolute ball the last couple of years,' he added. 

Fighting back tears, an emotional Lauren said, 'We don't want to say goodbye to Melbourne. We love this show. We love turning up every morning.' 

Jade and Lauren then both admitted that they 'called their mums' as soon as they heard the news that they were out of a job.

Just days ago media commentator Peter Ford said Kyle and Jackie O move into Melbourne could potentially hurt Kyle and Jase's friendship.

'There's an interesting little sidebar story here because they will be replacing Jase Hawkins and Lauren Phillips on the breakfast show and Jase and Kyle used to flat together,' Ford claimed.

'A couple of weeks ago Jase rang him and he said there’s no deal in place. But there is and it will be officially be announced in a couple of weeks time. 

'It would certainly shake up the FM radio stations.'

Kyle and Jackie O triumphed in the sixth radio ratings of the year.

KIIS FM's The Kyle and Jackie O Show beat 2GB's Ben Fordham in Sydney, gaining a massive 14.7 per cent audience share (up 0.8 per cent from last year).

Fordham's show was down 0.4 per cent, bring in a total share of 14.2 per cent. 

The survey also saw ABC Sydney inch ahead of WSFM 101.7's Amanda Keller and Brendan 'Jonesy' Jones to become the third highest rated breakfast show. 

Hosted by James Valentine, ABC's Sydney Breakfast rose 0.8 points with a 8.6 per cent share, while Jonesy and Amanda scored a 8.5 per cent share, dropping 0.3 points from the last survey.

Nova's Fitzy & Wippa with Kate Ritchie climbed 0.4 points, gaining a 7.3 per cent audience share.

Meanwhile, Sydney's 2GB stalwart Ray Hadley won once again in his later timeslot, landing the number spot for the 152nd time. 

Kyle and Jackie O are currently the highest-paid stars in radio with an impressive real estate portfolio to show for it.

In March, it was revealed Jackie splashed-out $13.25million on a three-storey oceanfront house in Clovelly at an open auction.

The fixer-upper is set back from the road, offering privacy she didn't have on the narrow streets of her former address in Woollahra.

She also offloaded her Woollahra mansion one month later for $13million, after originally paying $11million for the property in 2020.

Sandilands recently located to Vaucluse with wife Tegan, after renting a $13.8million Bellevue Hill mansion for $8000 per week.

Outside of radio, Sandilands also earns a pretty penny through his investment company King Kyle, which is worth around $100million.