As previously reported, streaming giant Netflix won the bidding war to acquire Warner Bros. Discovery, which has led to the two entities entering an exclusive negotiating period for the sale. Recently, an interesting development occurred when Paramount Skydance launched a hostile bid to acquire all of Warner Bros. Discovery's assets.
Dave Meltzer and Bryan Alvarez discussed this situation on the latest edition of Wrestling Observer Radio, focusing on how a potential acquisition by Netflix or Paramount could impact AEW. Last year, AEW signed a multi-year media rights deal with Warner Bros. Discovery, which is set to expire in early 2028.
According to Meltzer, if Netflix acquires Warner Bros. Discovery, it would take ownership of Warner Bros. Pictures, its intellectual property, and HBO Max. However, Netflix would not acquire the WBD-owned television networks, such as TBS and TNT, which air AEW Dynamite and Collision.
Meltzer noted that if Netflix were to acquire WBD, the established Turner Networks would likely separate into their own entity. This raises the question of where that would leave AEW concerning its television rights with Turner networks and its streaming rights on HBO Max, which would hypothetically be owned by Netflix. Most sources Meltzer consulted believe that after a potential Netflix acquisition, AEW will remain on HBO Max, rather than moving to a new Turner Sports or Turner Networks streaming service. Additionally, due to AEW’s existing contract with HBO Max, the promotion is expected to continue on the platform through 2027.
There are rumors that WBD has the option to extend its media rights deal with AEW through 2028, and any acquisition of Warner Bros. Discovery would likely encounter heavy government regulation and legal scrutiny, possibly delaying the sale for months or even years. Meltzer speculated that nothing might change for AEW until 2027 or 2028, and WBD could choose to exercise the option year, thus avoiding the need to negotiate a new deal for AEW.
Furthermore, Meltzer pointed out that “it’s not the end of the world” if AEW does not reach a new agreement with WBD or Netflix, explaining that “there are other places they can showcase their content.” He emphasized that AEW should be focused on “peaking in 2027” rather than solely on their current situation.
