New Report Lays Out Potential Positives & Negatives Of Paramount-WBD Merger For AEW

The Paramount acquisition of WBD is looking increasingly on course, and a new report lays out the potential positive and negative affects it could have on AEW. As noted, Paramount reached an agreement to settle the lawsuit filed by 11 states to block the merger earlier this week. The settlement, which has yet to be signed off by a judge, would remove one of the last remaining hurdles to getting the merger done.

WBD is of course the broadcast partner of AEW, and the Wrestling Observer Newsletter laid out the possible pros and cons for AEW if the merger is closed. To be clear, this is an analysis of potential outcomes and not a report on things being in the works.

The positive side assumes that Paramount wants to continue doing business with AEW. Paramount will need to cut costs, and it is possible that they would want to cut down when the current deal is up. AEW and WBD’s current deal runs through 2027, with an option year for 2028. The value of the 2028 option year isn’t known, but contractually is an increase from the $190 million AEW will get for 2027. Paramount could exercise their right to cancel at the end of next year, they could pick up the 2028 option year, or negotiate a new deal with the company.

If the deal continues, the positive for AEW is high. It would indicate (obviously) that Paramount is happy with the deal and there are a number of possibilities as to what they could mean for AEW. One thing the WON notes is the potential of a CBS network special. Dave Meltzer noted that AEW Dynamite did similar viewership numbers in 2025 that the UFC did, despite being on a weaker chanel and haveing likely between 50% to 75% of the average PPV buys. When CBS put the UFC on Saturday night for a primetime special, those numbers performed between two to three times what the UFC was doing with similar shows on ESPN.

There would also be the potential of Paramount, who have stated eventual plans to merge Paramount+ and HBO Max, doing something similar to what the UFC has and put PPVs on their streaming service without a PPV charge while paying AEW an additional rights fee. That is, of course, entirely dependent on whether they consider the UFC deal to be a success so far.

On the downside, Meltzer pointed out that WWE — a more popular promotion in terms of numbers — did not get a renewal from FOX for WWE Smackdown, not NBC for Saturday Night’s Main Event. Instead, the company renegotiated with NBCUniversal and Saturday Night’s Main Event now airs exclusively on Peacock.

Meltzer finally noted that if Paramount does decide not to renew, AEW would have to find a new home that could have lower media rights. Again, this is an IF and as of right now it’s not clear what decision Paramount will ultimately make assuming the deal closes.