Former A Current Affair star Seb Costello has revealed the real reason he walked away from Channel Nine.
The reporter formally resigned from the network in March following a three-month investigation into a wild on-camera chase that ended in the ladies toilets of a upmarket Melbourne hotel.
Speaking to TV Blackbox, Costello revealed that the ‘time was right’ for him to leave Nine.
‘I thought, at some stage, I’m going to have to think of a future after television,’ he explained.
‘I’ve just had a daughter, a two-year-old Annabelle who’s beautiful. The time just seemed right to decide to make that transition.’
Costello added that the changing nature of the industry had also made him reconsider his career trajectory.
A Current Affair star Seb Costello has revealed the real reason he walked away from Channel Nine. Pictured
‘Our industry is moving so fast. Television isn’t that protected industry it was in the 20th century,’ he said.
‘I had to be realistic that I wasn’t going to get from 38 to retirement age in linear television.’
Costello continued, hinting that he may be looking for a new career path outside of broadcast television.
‘I think after 13 years, I saw the best of free to air TV reporting,’ he said.
‘I got to be part of an overseas bureau, I got to travel the world. I got to cover Federal elections, international summits, Olympics.
‘After 13 years doing my job as a tv reporter, I’m ready for something new.’
Nine launched an internal probe after the star journalist – who is the son of the network’s former chairman and ex-federal Treasurer Peter Costello – was accused of assaulting a finance executive during the wild ‘bounce’ last November.
Costello and his cameraman were stood down by Nine pending the outcome of the investigation, which dragged on over the summer break.
‘I thought, at some stage, I’m going to have to think of a future after television,’ Seb explained to TV Blackbox
‘Our industry is moving so fast. Television isn’t that protected industry it was in the 20th century,’ he said. ‘I had to be realistic that I wasn’t going to get from 38 to retirement age in linear television.’
But he told Daily Mail Australia in March that he had ultimately decided to step down.
The decision comes after Daily Mail Australia spotted the award-winning journalist meeting with the network’s former chief and Millionaire Hot Seat host Eddie McGuire for advice over coffee in the Melbourne suburb of Toorak.
‘After more than a decade at Nine, I have resigned from my role to seek a fresh challenge,’ he said.
‘I would like to thank Nine and wish the team all the best.’
It is unclear whether Nine had formalised the findings of its investigation before Costello decided to resign.
However, a Nine spokesman confirmed it was Costello’s decision to part ways with the media company.
The alleged clash at the centre of the saga unfolded when Costello took property developer Peter Aquino to Oak Capital’s headquarters in Melbourne’s exclusive Rialto tower on Monday.
They were there to confront the executives Mr Aquino blames for the collapse of his Construct Homes business as part of as long-running investigation into the firm.
‘I got to be part of an overseas bureau, I got to travel the world. I got to cover Federal elections, international summits, Olympics. ‘After 13 years doing my job as a tv reporter, I’m ready for something new.’
But when Costello and Aquino spotted Oak Capital case manager Mo Ahmed, in the foyer of the opulent office block, the finance boss was not taking questions.
Instead, he ran off along the city’s bustling Collins Street and into the nearby Intercontinental Hotel, where he tried to hide from Costello and ACA’s cameras in the women’s loos.
Costello and his crew allegedly followed Mr Ahmed into the toilets where they continued to pepper him with queries about his company’s lending practices.
Oak Capital has since levelled serious allegations against Nine and Costello, accusing the high-profile reporter of assaulting Mr Ahmed after following him into the toilets – while Costello has steadfastly denied any wrongdoing whatsoever.
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