The 'exceptionally good deal' for ARN in Sandilands's $12m settlement

Kyle Sandilands (right) originally sought $85 million in the dispute, and walked away with $12.09 million. (Facebook: The Kyle and Jackie O Show)

ARN Media says it will pay Kyle Sandilands $12.09 million, with $3 million up-front, to settle a termination dispute.

Sandilands described the proceedings as "boring as hell" but told media he was happy with the result.

Jackie "O" Henderson's separate legal proceedings lodged against her former employer remain ongoing.

Kyle Sandilands says he is happy to move past the legal dispute over the termination of his $100 million contract with ARN Media, describing the months-long ordeal as "boring as hell".

In an ASX announcement on Wednesday, the media company agreed to pay the shock jock $12.09 million, with $3 million payable as soon as next month.

That figure is well under the $85 million he was seeking in the legal dispute over his abrupt sacking following an on-air row with his radio co-host Jackie "O" Henderson in February.

Kyle described the dispute with ARN Media as "daunting" and "boring as hell". (ABC News)

Speaking to media hours later, Sandilands said he was happy with the deal which he estimated to be worth "$15 million" and now planned to focus on his own platform.

"It's quite daunting to have that hanging over your head," he said of the now-resolved dispute.

Sandilands has just come out of a very public wrongful termination dispute $12 million richer, although the real winner could be his former employer.

Conrad Liveris expects Henderson will achieve a higher settlement payout. (ABC News)

Economist Conrad Liveris initially predicted Sandilands would be paid out a sum between $10 million and $30 million before it went to the Federal Court.

He said Wednesday's settlement meant ARN Media was walking away with an "exceptionally good deal".

"They are walking away, with a lot of control here," he said.

Sandilands will receive $12 million with $3 million paid up-front as part of his settlement. (ABC News: Abubakr Sajid)

As part of the settlement, ARN Media will advertise Sandilands's new, independent media project on its platforms which will earn him $1.5 million over the next three years.

Sandilands has also agreed to a revenue share arrangement, providing the media company with 19.9 per cent of the revenue from his new venture.

However, Sandilands is barred from engaging with the network's direct competitors for the next nine months.

He predicted Henderson's settlement, if she chose not to pursue legal proceedings, could reach the $20 million mark.

"The main issue for Jackie is the way i