Loading Jones used the meeting to point out that he has won more than 200 consecutive radio ratings surveys, a record for any radio host. His rating dominance has provided a powerful platform for other 2GB talent including Ray Hadley who follows in the morning slot. Jones also criticised the radio network's management team's handling of the contract negotiations, telling Marks that he had heard he might lose his breakfast spot. Macquarie is run by chief executive Adam Lang and executive chairman Russell Tate. Sources close to Jones said Marks didn't take sides when it came to the right-wing radio presenter's complaints and did not get involved in discussions about his future with the network. Three months later, Tate announced the network was "delighted" to re-sign Jones on a two-year contract believed to be worth $8 million in total.

"With Alan's current ratings share of the Sydney radio audience amongst the highest it has ever been, his dominance shows no sign of slowing down," he said in a May 28 media release. What transpired after the meeting with Marks and before the announcement of Jones' new contract has been the subject of intense speculation in media circles. There are claims and counter-claims over the most basic of facts while conflicting media leaks have punctuated negotiations. Some observers claim Jones was close to getting turfed in favour of Hadley. Others say this was never likely. Jones expresses plenty of strong opinions each weekday morning when he goes on air at 5.30 am. His colleagues, rivals and shareholders are equally forthright about his role at Macquarie. And they rarely agree. A case in point was an interview Marks gave last week at Nine's financial results when he said the company could "survive without" Jones following his widely-criticised suggestion that New Zealand Prime Minister Jacinda Ardern should have a "sock [shoved] down her throat" over climate change. For many this was an anodyne response to a stock question; any $3.3 billion media company can endure without one person no matter how big a star they may be. For others it was yet another sign not everyone in the extended Nine family is happy with Jones.

Loading Nine had made it clear soon after merging with Fairfax Media that the broadcaster would pursue full ownership of Macquarie. In August, the company made a $114.5 million offer for the remaining shares. Crucially, Jones wasn't the first 2GB presenter that Marks met with after taking over Fairfax Media in late-2018. Nine is the owner of this masthead. The Nine boss had also met with Hadley months earlier. Sources close to Nine say the reason for the Hadley meeting, and the later meeting with Jones, was simply for the TV network's boss to meet the major on-air talent after the merger.

However, those close to Jones believed Hadley was positioning himself to takeover the high-profile and well-paid breakfast slot. There had been rumours within the network for months and it was a talking point between employees at the Macquarie Christmas party. Tensions were not helped when, a month later, a rumour got back to Jones that major Macquarie shareholder John Singleton and Hadley were together on the Gold Coast for the Magic Millions horse races. Loading Replay Replay video Play video Play video This led 2GB employees to believe that Singleton, who has a 32 per cent stake in the business and significant influence, backed the Morning Show host for the breakfast job. Sources close to Singleton maintain he did not have a favourite or play an active role in the negotiations. Sources close to Jones are adamant Macquarie management, including Tate and Lang, had decided it was time for him to either leave or to be put onto a pre-recorded segment without the risk of going live. They also claim he would have been removed from the breakfast slot had it not been for Nine chairman Peter Costello.

Loading Jones and Costello, a former Howard government Treasurer who has been Nine chairman since 2016, know each other well and sources close to 2GB said the two spoke during the time when the negotiations were happening. Jones is generally well liked by the conservative side of politics. But sources close to Nine disagree that Costello had any involvement in re-signing him at Macquarie. Instead, they said Nine had simply asked the Macquarie leadership for some much-needed "stability" at the radio network after weeks of media coverage over the contract negotiations. They say the radio network's management was left to handle the negotiations. Media executives familiar with the deliberations said Macquarie had always wanted to re-sign Jones, though on a 12-month contract. While Hadley was re-signed on an "extended deal", they said it was an entirely separate decision about ensuring he would be with the network for a long-time and had nothing to do with taking over breakfast immediately. Nonetheless, all sides acknowledge there were "reputational" concerns when it came to having Jones on air. In the past the network has not been too worried about a loss of revenue, sources said, with advertisers typically returning to the program shortly after boycotts.

The current boycott over the Ardern comments is considered to be more serious with advertisers under scrutiny from online groups like Sleeping Giants and Mad F--king Witches to stay off the show. "They smell blood in the water," one 2GB source said. Loading Replay Replay video Play video Play video After apologising, Jones was publicly warned by Tate that he was one misstep away from losing his newly-signed contracted. "I have today discussed the matter with Alan and advised him that any recurrence of commentary of this nature will result in the termination of his contract," Tate said in a statement on August 17.