The Australia's Got Talent judge and 2DayFM broadcaster has broken his silence following a controversial on-air rant against News Limited journalist Alison Stephenson, who had given his new TV show a poor review.
In a statement published on the 2DayFM website, Sandilands wrote: "I have been in radio for more than ten years, my show is based on controversy, I give as good as I get and I have never been shy in expressing my opinion.
"In the heat of the moment I reacted badly to criticism of my television programme. I took my remarks too far and for that - and the offence caused to Alison Stephenson and those exposed to my comments - I sincerely apologise."
At least 20 companies - including car manufacturer Holden and Australian supermarket chain Coles - are believed to have withdrawn sponsorship from the show in the wake of the incident.
Sandilands, who has been away on holiday this week, described his radio show as "polarising" and apologised for the effect of his actions "on clients and our hard-working staff, who have had to weather a storm of criticism in the media and on social networks".
He added: "I am looking forward to The Kyle and Jackie O Show returning in 2012 with a fresh and positive outlook on breakfast radio."
Southern Cross Austereo boss Rhys Holleran also thanked Sandilands for his apology in the statement, adding that the company "does not endorse in any way Kyle Sandilands's behaviour that has been deemed offensive".
Holleran also stressed that the company "is committed to developing procedures and processes to provide the best possible outcome from a troublesome situation" and reassured advertisers that the radio group offers a "positive" environment.
> Kyle Sandilands 'has support of radio group Austereo'