As many of us may know, last week, Paramount entered into an agreement to acquire Warner Bros. Discovery (WBD) after increasing their offer to $31 per share, while Netflix opted not to raise their bid. This marked the end of a turbulent process for the acquisition, which included a hostile bid from Paramount, significant industry pushback, and concerns about regulatory approval.
While some of these concerns still persist, the deal has been finalized and is set to move forward. WBD is the broadcast partner for AEW, and Paramount’s acquisition of the entire company ensures that HBO Max and the Global Discovery Networks— the platforms that air AEW—will remain together. Paramount has announced plans to combine HBO Max with Paramount+, although details on how this will be implemented are still forthcoming. David Ellison of Paramount has stated that HBO will continue to be maintained as a brand.
According to Fightful Select, AEW had anticipated that Paramount would outbid Netflix for WBD in the days leading up to the acquisition. Additionally, Dave Meltzer noted in the latest edition of the Wrestling Observer Newsletter that AEW President and CEO Tony Khan was “thrilled” by the news, as he believes this is the best possible scenario for AEW compared to a deal with Netflix.
However, Khan's view is not universally shared within AEW. Some individuals in the company are concerned that Paramount may decide to cut AEW due to the need to reduce costs, especially under pressure from TKO. TKO has contracts with Paramount to broadcast UFC content on Paramount+ as well as Zuffa Boxing.
It is important to clarify that there is currently no indication that Paramount will be influenced by TKO to drop AEW; this is simply a concern expressed by some within AEW. AEW’s contract with WBD, and thus with Paramount for airing AEW on TNT and TBS, runs through 2027, with an option for 2028.
