UPDATED: Even More On AEW-WBD Media Deal, Details On AEW Rampage’s Fate

UPDATE: More details are coming out regarding AEW’s new media rights deal with Warner Bros. Discovery. The Wrestling Observer has confirmed the report by SBJ that the deal is for three years with an option for a fourth, further noting that the fourth year would have a “substantial” price increase.

The report also notes that AEW Rampage will be discontinued, and that AEW is still shopping around their new show Shockwave to other networks. AEW has reportedly been in talks with Fox for that show. Fightful Select also reports that Rampage will no longer air on WBD and WBD noted that Rampage could end up elsewhere, though there are no word on plans regarding such at this time.

As regarding the AEW library, the current plan per Fightful Select is to have Dynamite, Collision and Rampage’s full library on Max. If Rampage ends up elsewhere, that library moving forward would not be on Max.

Regarding the Dynamite and Collision simulcasting on Max, the shows will be live on the West Coast before they air on TV.

As announced, Max will be home for PPV events at a discounted price, which the Observer reports is closer to the UFC’s model of having ESPN+ with a cost to the PPVs than the WWE/Peacock model. PPVs will remain available on regular PPV, DirectTV, Dish, Triller, YouTube, etc. but the marketing will be geared to Max who will be promoting the shows. Fightful Select notes that internally at AEW, PPVs being paywalled with additional cost is the one aspect met with any negativity and sources in AEW pointed to the UFC’s point of view that if you cannibalize your PPV price points, you can’t go back. AEW will get PPV revenue from the events airing on Max.

There’s no word on the TruTV aspect of the deal, which runs from January 1st, 2025 through December 31st, 2027 with the option potentially taking things through 2028. The Observer notes that the new deal makes the company “very profitable” going forward even if there is no deal made for Shockwave.

Fightful Select notes that ROH and TruTV were never mentioned to them and obviously are not in the announcement. AEW did regain some elements in their deal, specifically that AEW regains the rights to AEW Dark. There have been discussions about potentially using Dark in the future, but nothing is yet confirmed.

ORIGINAL: A new report has some additional details on AEW’s just-announced media rights deal with Warner Bros. Discovery. As announced today, the two sides announced a new deal that will keep AEW Dynamite and Collision on TBS and TNT, with the shows being simulcast on Max in the US starting in January of 2025 and PPVs being available on Max for a discounted price later next year. Sports Business Journal reports that while both sides declined to reveal financial details, sources indicate that it is a three year deal with an option for a fourth year.

The report also cites sources as saying that the deal is estimated to be valued at $170 million annually including the rights fee and other elements, which is a somewhat different specific number than the original report from Variety which said it was upwards of $150 million. That said, the two reports do not contradict each other as “upward of” means “more than.” A previous report from entertainment insiders Puck also cited a ballpark of $170 million.

The report from SBJ also notes that Warner Bros. Discovery is maintaining an equity stake in AEW. Such a stake has never been officially confirmed, though Tony Khan has never denied the report either. The size of the equity stake is not confirmed.

The deal will keep programs like “Dynamite” and “Collision” at their current homes on WBD’s networks, TBS and TNT respectively. Tonight is the fifth anniversary of the launch of “AEW Dynamite.” The new deal will also give AEW and WBD more opportunities to create additional programming for linear and digital platforms.

Both AEW and WBD declined to share the financial details behind the deal. However, sources say it is a three-year deal with an option for a fourth year. The deal is estimated to be valued at $170M annually including the rights fee and other elements. WBD also keeps its equity stake in AEW, but the size of it was not disclosed. It is noted that Activist Founding Partner Bernie Cahill was among those who negotiated for AEW, while David Zaslav and WBD’s senior leadership team helped bring the deal to fruition on WBD’s side.

The report quotes WBD Chair & CEO of U.S. Networks Kathleen Finch as saying, “We did not want to let our wonderful partnership with Tony and the entire group at AEW to go anywhere else. What’s exciting about the deal is it is the same deal that we have had, but it’s more because what we’re able to do now is expand the franchise to a potentially brand-new audience on Max. It’s a younger, engaged audience that we think can really tap into this fandom in new way.”