As of Tuesday, close to a dozen advertisers have declared that they are severing ties with the morning show of Mr Jones, the Australian Associated Press (AAP) reported today.
AAP listed the firms as the following: Coles, Woolworths, Mercedes-Benz, ING Direct, Dilmah Tea, Bing Lee, Freedom Furniture, Challenger, Honda Australia, Volvo car Australia and the Australian International Motor Show.
These companies, analysts said, responded to the outpouring of criticisms generated by Mr Jones when he quipped in a Liberal function that Jack Gillard, who recently passed away due to illness, "died a few weeks ago of shame."
"To think that he had a daughter who told lies every time she stood for Parliament," the outspoken shock jock was quoted by News Ltd on Sunday.
The same report also noted that Mr Jones' remarks had elicited applause and laughter from the audience, which was most composed of Young Liberal members, according to The Daily Telegraph journalist who secretly covered the event.
Labor and Liberal politicians alike condemned the 'hurtful' comments, which Mr Jones admitted was a slip on his part as he sought to personally apologise to Ms Gillard.
However, in a statement by the prime minister's office, Ms Gillard showed no indication that she was ready to accept the apology offered by her long-time critic. She has also remained silent on the matter.
Resuming his broadcast on Tuesday, Mr Jones has reiterated that he "was wrong ... and the comment should not have been made, the comment had the capacity to hurt the Prime Minister grieving over the death of her father."
"I am sorry for what I said. It is more than regret, I am genuinely sorry for the remark. I didn't think the comment would be reported, it was made thoughtlessly and off the cuff," Mr Jones was reported by AAP as saying.
Yet at the same time, the shock jock claimed that the avalanche of attacks now trained against him was meant to neutralise him because he is known critic of the Labor-led federal government.
"All of this is of course (were) designed to intimidate, to silence and to destroy (me)," The Australian reported Mr Jones as saying on Tuesday.
Senior Labor figures have been connecting the controversy to Liberal politics, noting that Mr Jones is a known supporter and friend of Opposition Leader Tony Abbott, who on Monday issued a brief statement scoring the comments made by the popular broadcaster.
For Treasurer Wayne Swan, what were said by the radio personality was reflective of the scare tactics that Mr Abbott is known for, adding that whatever they say hurt not only their political foes but the Australian economy.
"Whenever Alan Jones, Tony Abbott or anyone else goes out there and deliberately misrepresents the facts about our economy, it hurts us all," News Ltd quoted Mr Swan as saying.
"Listening to someone spray his microphone with such vitriol as you're waking up isn't just bad for your eardrums, it's bad for the country," he wrote in an article published by the media firm.
What happened was clear manifestation that Mr Jones "suffers from delusions of grandeur," former Prime Minister Kevin Rudd said in an interview with ABC.
"I think that's being cultivated by his intimate association with previous conservative leaders over a long period of time," Mr Rudd said.
He added that Mr Abbott and the Liberals should disassociate Mr Jones from the party.
Calls emerged that Mr Jones needs to be sacked from his radio program but amidst the wholesale exodus of advertisers happening at the moment, it is unlikely that the broadcaster will be pushed off the air anytime soon, analysts said.
A report by CNN on Sunday has suggested that 2GB, where Mr Jones is part-owner, will hold on to the popular broadcaster simply because he is a money-maker for the radio station.
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