The monumental $200 million contract is a 10-year deal that will see the powerhouse duo host The Kyle and Jackie O Show on KIIS FM until 2034.
It will also see them expand their Sydney station into Melbourne in 2024.
Meaning? Someone's going to be out of a job.
Watch: Kyle Sandilands talks to Mia Freedman on No Filter about relationships and kids. Post continues below.
That someone is Melbourne hosts Lauren Phillips and Jase Hawkins — who will be wrapping up their successful local show in December.
The Melbourne duo announced the news on air, along with the shock revelation that they were told they were being axed via a phone call the night before.
"Sad news we want to share with you. Last night we received a phone call from management informing us the show will be finishing up at the end of the year," Hawkins announced live on-air.
"Kyle and Jackie O will be taking over next year, they will be syndicating the show from Sydney to be broadcast in Melbourne."