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You never know what could be on the horizon in the pro wrestling world. The uncertainty is certainly mounting for AEW, because their television home was just the subject of a huge sale. Now, the company is very much in a wait and see period, and they may be waiting for a while.

Sean Ross Sapp reported on Fightful Select that he spoke with sources in AEW who predicted the outcome involving Netflix and WBD before it became public the following day. At this time, there is no information on AEWâ€s future with WBD, and most people contacted do not expect any major developments in the near future.

Netflix entered exclusive negotiations to acquire Warner Bros. Discoveryâ€s studio and streaming assets, including HBO Max, in a deal valued at roughly $82.7 billion. The agreement would place major franchises such as Harry Potter, Game of Thrones, and DC properties under Netflixâ€s control. The transaction requires regulatory approval, which may take a year or longer.

The development is fascinating, especially within the pro wrestling industry. After all, AEW currently airs on Warner Bros. Discovery platforms.

Netflix is already in business with WWE through a 10-year, $5 billion agreement with TKO Group that began in January 2025. The deal makes WWE RAW exclusive to Netflix. The agreement also includes international rights to SmackDown, NXT, and PLEs. So, it will be very interesting to see what Netflix does with AEW when the time comes.

Netflix buying WBD could be a game changer in many ways. It may also put a lot of people out of work, since most mergers see people lose their jobs as part of redundancies. WWE went through the same thing when they merged with UFC under the TKO umbrella.

Only time will tell what happens in this situation, but we will have all the updates you need here at Ringside News. With so much going on in this deal, it looks like AEWâ€s future is up in the air.

Whatâ€s your take on WBDâ€s deal with Netflix? Do you believe that AEWâ€s television home will have to change? Let us know what you think in the comments section!

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After months of rumors, Netflix has announced that the company has reached an agreement to acquire Warner Bros. Assuming the deal clears all regulatory concerns, this would likely mean that one company would have the rights to stream both WWE and AEW’s flagship shows.

Netflix announced the deal this morning, revealing that they would be acquiring the Warner Bros. movie and television studios, as well as HBO and HBO Max. Meanwhile, the previously-announced split within WBD will move forward as planned, with Netflix only acquiring the Warner Bros. side. Discovery Global will be a separate company, not owned by Netflix, consisting of TV channels like TBS, TNT, and Discovery. According to the press release, Netflix will continue operating HBO Max as-is for the time being, though that will almost surely change down the line.

It’s not yet entirely clear how this move could affect AEW programming. The promotion is in the early stage of a multi-year partnership with WBD that they signed late last year. On the surface, that would keep “AEW Dynamite” and “AEW Collision” guaranteed to broadcast for several years to come, though it’s unknown if there were any clauses in the contract in the event of a possible sale.

At the start of 2025, “WWE Raw” made the move from traditional cable to Netflix, which is also now the home of several other WWE shows internationally. The company’s premium live events stream on Netflix in many countries, while WWE just struck a deal with ESPN several months ago to stream all main roster PLEs on the new ESPN+ app in the United States for the foreseeable future.

One added wrinkle to the story is that WBD was previously reported to own a small stake in AEW. With so much in flux as WBD prepares to split into two before half of it is acquired, it remains to be seen where that piece of ownership ends up.

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Itâ€s official: Netflix is buying Warner Bros. Discovery in a deal worth $82.7 billion, and it could reshape the entire entertainment industry—including the future of All Elite Wrestling.

On December 5, 2025, Netflix and WBD issued a joint press release confirming theyâ€ve entered into a definitive agreement. The deal includes Warner Bros. film and TV studios, HBO, and HBO Max, with Netflix agreeing to pay $27.75 per WBD share in a mix of cash and stock. That translates to an equity value of $72 billion, with the total enterprise value pegged at $82.7 billion.

Netflix said the move will give its subscribers access to an unprecedented library of content, ranging from Harry Potter and Game of Thrones to The Sopranos, The Big Bang Theory, and more—while building on its own franchises like Stranger Things and Squid Game.

“Our mission has always been to entertain the world,†said Netflix co-CEO Ted Sarandos. “By combining Warner Bros.†incredible library of shows and movies… with our culture-defining titles… weâ€ll be able to do that even better.â€

Netflix co-CEO Greg Peters added that this deal would benefit both consumers and content creators:

“With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans… and strengthening the entire entertainment industry.â€

WBD CEO David Zaslav also weighed in:

“By coming together with Netflix, we will ensure people everywhere will continue to enjoy the worldâ€s most resonant stories for generations to come.â€

Now hereâ€s where things get real for AEW. AEWâ€s entire television and streaming presence—TNT, TBS, and Max—is under the Warner Bros. Discovery umbrella. With Netflix now in control, the future of Tony Khanâ€s promotion could depend on whether AEW aligns with Netflixâ€s evolving content strategy. Netflix has already moved into weekly live wrestling by streaming WWE RAW starting in 2025, but thereâ€s no guarantee theyâ€ll make room for AEW, too.

If AEW no longer fits into the new parent companyâ€s plans, Khan may be forced to find a new media partner or restructure his entire broadcast model—especially as Netflix focuses on platform consolidation and cost-cutting.

While Netflix said it intends to maintain Warner Bros.†current operations, a lot can change as executives merge strategies and start trimming overlap. The companies also expect $2–3 billion in cost savings per year, a figure that could spell trouble for less-prioritized programming.

The acquisition is expected to close in 12 to 18 months, pending regulatory approval and the completion of WBDâ€s previously announced separation of its Global Networks division into a separate publicly traded company.

With AEW programming still tied to TBS, TNT, and Max, and Netflix already betting big on WWE, the next year could be one of the most uncertain periods in AEWâ€s broadcast history.

Do you think AEW will survive under Netflix ownership? Should Tony Khan start looking for a new home for Dynamite and Collision? Share your thoughts in the comments—we want to hear your take on how this industry shake-up affects pro wrestling.

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A new power move in Hollywood could send major shockwaves through the wrestling industry—because Netflix is now in exclusive talks to acquire Warner Bros. Discovery, the parent company of TNT, TBS, Max, and yes, AEWâ€s entire television home.

According to TheWrap, Netflix has offered $30 a share for Warner Bros. Discoveryâ€s studio and streaming assets, beating out rival suitors Paramount and Comcast. The proposal also includes a massive $5 billion breakup fee, mirroring terms in Paramountâ€s previous bid and signaling just how serious Netflix is about locking this down.

“Netflix may be considering a bid,†Puck News originally reported. But now, thatâ€s no longer speculation—itâ€s a deal in motion.

If the acquisition goes through, it could drastically alter AEWâ€s standing in the media landscape. The wrestling promotion has been on TNT and TBS since its 2019 launch and currently partners with Max for streaming. With Netflix now entering the world of weekly live wrestling by streaming WWE RAW every Monday starting in 2025, AEW could find itself needing to adapt or renegotiate terms to fit within the platformâ€s growing focus on premium live sports entertainment.

While TheWrap notes the makeup of the bid hasnâ€t been fully disclosed, earlier versions were a blend of cash and stock. Regardless, itâ€s a bold shift from just months ago, when Netflix co-CEO Greg Peters was downplaying large media mergers, saying they didnâ€t have an “amazing track record.†Now, Netflix is poised to take control of legacy brands like HBO, CNN, DC Studios, and the Harry Potter franchise—if regulators allow it.

Thatâ€s the other wrinkle. According to sources, Netflix could face tough antitrust scrutiny, especially from the Department of Justice and California Attorney General Robert Bonta, who previously opposed consolidation involving WBD.

The dealâ€s $5 billion breakup fee was reportedly added “to reassure WBD amid expected regulatory hurdles.â€

Meanwhile, Paramount isnâ€t going quietly. They claimed the bidding process was rigged, sending a letter to WBDâ€s board accusing them of “abandoning the semblance and reality of a fair transaction process.†Paramount had reportedly submitted its third bid just before the news broke, but insiders suggest Netflixâ€s more aggressive terms pushed it over the edge.

With all signs pointing to Netflix as the frontrunner, the implications for AEW—and other live sports and entertainment properties on WBDâ€s platforms—could be enormous.

If Netflix doesnâ€t see AEWâ€s wrestling as a fit, Tony Khan could be forced to shop AEW to a new network, or restructure its entire broadcast strategy.

Do you think Netflix will keep AEW programming after a WBD takeover? Should Tony Khan already be looking for a backup plan? Drop your thoughts in the comments—we want to hear where you think this is going.

December 4, 2025 11:26 pm

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AEW may still have a loyal fanbase, but the company is facing year-over-year declines in both ratings and attendance—and now a new corporate shake-up at Warner Bros. Discovery could put their television future in even more jeopardy.

On October 21, 2025, Warner Bros. Discovery confirmed that it is formally exploring a potential sale or split after receiving unsolicited offers. This includes interest in purchasing either the entire company or individual business units like Warner Bros. Studios and Discovery Global. What this means for AEW, whose flagship shows air on TBS and TNT, is a growing cloud of uncertainty. CEO David Zaslav confirmed the process in a public statement:

“We have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets.â€

WBD still plans to split into two divisions—one for cable networks (TNT, TBS, etc.), and the other for streaming and film (Max and Warner Bros. Pictures)—by mid-2026. But now, the door is wide open for a complete sell-off.

“We continue to believe that our planned separation to create two distinct, leading media companies will create compelling value. That said, we determined taking these actions to broaden our scope is in the best interest of shareholders,†added Board Chair Samuel A. Di Piazza, Jr.

While WBD recently turned down a $20-per-share offer from Paramount-Skydance, several other major players are still circling. During the October 23 episode of Wrestling Observer Radio, Dave Meltzer broke down the situation in detail, explaining how it directly affects AEWâ€s standing:

“Thereâ€s so many different things going on all at the same time. WBD itself is still in plans to split into two entities, which is all the cable stations, and the other entity would be the streaming services and the movie studio. The movie studio is actually doing very well right now. So would you buy one? Do you buy both?â€

He also listed the top suitors currently in play:

“Netflix is looking at it. Paramount/Skydance is looking at it. Comcast is looking at it. Comcast itself is also in the midst of a split-up where theyâ€re going to essentially unload almost all their TV stations into another company and keep the network and the streaming stations.â€

But the real concern came when Meltzer addressed AEWâ€s future directly:

“So, thereâ€s a lot of different things that could happen as far as who gets it. And the future of AEW is certainly involved in all this. It could go any one of a number of different ways. I mean, TBS and TNT—who knows whatâ€s going to happen? Whoâ€s going to be owning them? Will they be part of a deal?â€

And whoever ends up controlling those networks will ultimately decide whether AEW stays, moves, or gets dropped entirely:

“Whoever owns [TBS/TNT] is going to have their own opinions on a lot of different things. And AEW would be one of those things.â€

With AEWâ€s viewership numbers softening across its flagship shows and attendance dropping at both Dynamite and Collision tapings, this ownership shuffle comes at a rough time. What happens next could determine whether AEW continues its presence on mainstream cable—or is forced to pivot to a new broadcast partner entirely.

Please credit Ringside News if you use the above transcript in your publication.

Do you think AEW should start shopping for a new network? Please share your thoughts and feedback in the comment section below.

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For the past several months, rumors have circulated online claiming that various corporate entities are interested in acquiring Warner Bros. Discovery ahead of the media conglomerate’s planned split into two divisions. That possibility has taken another step towards becoming a reality, with WBD announcing in a press release this morning that they’re officially exploring a sale.

“While [WBD] continues to advance its previously announced separation of Warner Bros. and Discovery Global, its Board of Directors today announced it has initiated a review of strategic alternatives to maximize shareholder value, in light of unsolicited interest the Company has received from multiple parties for both the entire company and Warner Bros,” the statement reads.

The release confirmed that the company is open to selling off parts of the business, or a full acquisition, depending on what would earn the most money for shareholders. In the meantime, it will continue to move towards the corporate split in the event that a successful sale doesn’t materialize.

WBD has served as the primary broadcast partner for AEW since the company was founded in 2019. The two parties signed a media rights extension last year, which should keep the business relationship going for the next few years even if a sale does occur. However, it’s very possible that AEW representatives will be negotiating with an entirely different company when it comes time to start working out the next agreement. It’s also worth noting that WBD is said to own a stake in AEW, and any company that acquires WBD would presumably take on that piece of ownership as well.

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A new twist has entered the Warner Bros. Discovery drama, and this one could have massive consequences for the wrestling…