Backstage Update on How Possible Warner Bros. Discovery Acquisition Will Affect AEW

The ongoing saga of the sale of AEW broadcast partner Warner Bros. Discovery saw an interesting shift this week, with Paramount Skydance launching a hostile bid to acquire all of WBD’s assets. Initially, streaming giant Netflix won the bidding war to acquire WBD, with the two entities entering an exclusive negotiating period for the sale.

However, that prompted the latest hostile bid attempt by Paramount. During today’s Wrestling Observer Radio, Dave Meltzer and Bryan Alvarez discussed this development and how potential Netflix or Paramount acquisitions might affect AEW.

Last year, AEW signed a new multi-year media rights deal with WBD, which is set to run through 2027 and expire early in 2028. Meltzer discussed the potential scenario of Netflix acquiring WBD. As part of Netflix’s proposed acquisition, the streamer would acquire Warner Bros. Pictures, its IP, and HBO Max. Netflix would not acquire the WBD-owned television networks, which include TBS and TNT, the networks that air AEW Dynamite and Collision.

In the event of a Netflix acquisition of WBD, the established Turner Networks would likely spin off into their own entity. But where does that leave AEW with the television rights with the Turner networks and the streaming rights on HBO Max, which would hypothetically be owned by Netflix?

According to Meltzer, most of the sources he spoke to believe that after a likely Netflix acquisition, AEW will remain on HBO Max rather than moving to a new potential Turner Sports or Turner Networks streaming service. Meltzer noted his belief that due to AEW’s existing contract with HBO Max, the promotion would have to stay on the streamer through 2027.

It’s rumored that WBD has an option to extend its media rights deal with AEW through 2028. Additionally, any potential acquisition of Warner Bros. Discovery would likely face heavy government regulation and legal scrutiny, so it could take months, if not years, to finalize the sale.

Meltzer speculated that nothing will change for AEW until 2027 or 2028, and that WBD could pick up the option year, so the corporate entity would not have to negotiate a new deal for AEW.

That said, Meltzer noted that “it’s not the end of the world” if AEW doesn’t reach a new deal with WBD or Netflix, noting that “there are other places they can get on.” The Wrestling Observer Newsletter writer also explained that AEW should be focused on “peaking in 2027” over what the company is doing right now.