The future of AEW hangs in the balance as the Warner Bros-Netflix deal looms. But where does this leave the popular wrestling promotion? A complex situation is unfolding, and it might not be a smooth ride for AEW fans.
AEW, or All Elite Wrestling, has been a prominent fixture on Warner Bros. Discovery's (WBD) cable networks since its inception in 2019. With Netflix's recent all-cash offer to acquire WBD's studio and streaming properties, the future of AEW's media rights is up in the air.
Here's the twist: while the 519-page proxy statement filed by Netflix and WBD doesn't explicitly mention AEW, its absence speaks volumes. It indicates that the AEW rights deal will stay with the Discovery side of WBD, which is not part of the sale to Netflix. Currently, AEW's shows, AEW Dynamite and AEW Collision, air on WBD's networks and stream on HBO Max, with pay-per-views available at discounted rates for subscribers.
But here's where it gets controversial: after the current deal expires in 2027 or 2028, AEW's presence on HBO Max could be in jeopardy. With HBO Max becoming a Netflix property, and Netflix already having a partnership with WWE (a rival wrestling promotion), AEW might find itself without a streaming home. And this is the part most people miss: WWE's deal with Netflix allegedly includes an exclusivity clause, which could further complicate matters.
Adding to the intrigue, WBD's minority stake in AEW is also expected to remain with Discovery. This could encourage Discovery to feature AEW shows on its TNT Sports streaming service, while still being able to lease pay-per-views to other platforms, possibly even HBO Max.
However, with years to go until the deal's expiration, anything can happen. Paramount is still in the running to acquire WBD's assets, and the landscape could shift dramatically. For now, it seems we have a glimpse into the potential fate of Tony Khan's AEW, but the road ahead is filled with uncertainty and potential surprises.
