Just days after Netflix claimed victory in a massive $82.7 billion deal to acquire Warner Bros. Discovery, the game has changed again—and it could throw AEWâ€s broadcast future deeper into uncertainty.
According to Reuters, Paramount Skydance dropped a hostile $108.4 billion counter-offer in a last-ditch move to block Netflix from finalizing its deal. That new figure outbids Netflixâ€s already agreed-upon $72 billion equity deal and throws the entire media industry into chaos.
Netflix had already secured what looked like a lock on Warner Bros.†film studios, HBO, HBO Max, and TNT/TBS, where AEW currently airs Dynamite and Collision. But Paramountâ€s aggressive new play means the sale is far from settled—and AEWâ€s future might depend on who ends up owning the company. Industry analyst Ross Benes summed it up perfectly:
“The Warner Bros Discovery acquisition is far from over. Netflix is in the driverâ€s seat but there will be twists and turns before the finish line.â€
Paramount isnâ€t holding back. The company accused Warner Bros. Discovery of “abandoning a fair bidding process†and claimed thereâ€s been a “bias against us.†Paramount CEO David Ellison told CNBC:
“We are fighting for our shareholders, and weâ€re also fighting for the shareholders of Warner Bros Discovery.â€
Meanwhile, sources say Warner Bros. execs have privately called the Netflix offer a “slam dunk,†dismissing Paramountâ€s previous bids as underwhelming. But that hasnâ€t stopped Ellison, who is backed by Oracle co-founder Larry Ellison, from putting serious money on the table.
This new twist brings massive regulatory pressure. Netflixâ€s deal already includes a $5.8 billion breakup fee and is expected to face antitrust scrutiny. President Trump has voiced concerns, lawmakers from both parties are raising red flags, and Hollywood unions are bracing for potential job losses.
The stakes are massive—not just for HBO, DC, and Harry Potter, but for AEW. Tony Khanâ€s entire TV footprint still lives under the Warner umbrella, and if Netflix or Paramount makes big changes to cut costs or consolidate platforms, AEW may need a new media home fast.
Whether Netflix or Paramount wins, this isnâ€t just a corporate fight—itâ€s a battle that could reshape professional wrestlingâ€s place in streaming and cable.
Which company do you think AEW would be safer with—Netflix, already backing WWE, or Paramount, still looking for a wrestling play? Drop your take in the comments and let us know where you stand in this billion-dollar media brawl.
December 8, 2025 10:22 am
Discover more from 6up.net
Subscribe to get the latest posts sent to your email.