AEW and Warner Bros. Discovery have announced a long-awaited new media rights agreement.
The news was revealed just hours before AEW Dynamite’s fifth-anniversary show on Wednesday.
The deal includes episodes of AEW Dynamite and Collision streaming live on Max starting in January in addition to airing on TBS and TNT respectively.
While financial terms were not officially disclosed, Variety writes that “sources say the deal is valued at upwards of $150 million per year,” consistent with a recent report from The Puck’s John Ourand. However, Dave Meltzer of The Wrestling Observer Newsletter reports that the AEW-WBD deal is for “substantially over that figure on an annual basis with all components figured in.”
The Sports Business Journal writes that “The deal is estimated to be valued at $170M total including the rights fee and other elements.”
The agreement runs from January 2025 to the end of 2027, with an option for 2028 at an increased price. AEW pay-per-views streaming on Max “at a discounted price per event” is expected to begin in January, with further announcements to be made in the coming months.
“We are honored to announce the extension of our incredible partnership with Warner Bros. Discovery,” said AEW CEO, GM and head of creative Tony Khan. “This extension continues the tradition of iconic wrestling events broadcast on TBS and TNT, while also establishing a new legacy for AEW through weekly live streams on Max for years to come. We thank David Zaslav, Kathleen Finch and everyone at WBD for their tireless support of All Elite Wrestling since its inception, as well as the AEW fans, talent and staff that helped make this possible.”
“Tony Khan and the entire AEW team have been incredible partners, and we are thrilled to strike this expanded agreement to deliver amazing new AEW content and stories to TNT and TBS, as well as bring the thrilling live action to Max for the first time,” said Kathleen Finch, chairman and CEO of US Networks for Warner Bros. Discovery. “We are focused on creating fresh and authentic experiences for AEW’s passionate and engaged fanbase while also introducing them to our growing lineup of high-action sports and entertainment at TNT and beyond.”
Kathleen Finch also told The Hollywood Reporter that Max will help AEW reach a new audience as well. She said:
“The benefit now to WBD is to introduce this terrific event to a streaming audience, the Max audience, which may not have been exposed to AEW in any great way until now, starting in January, is going to have it every Wednesday and Saturday nights, as well as the library available to stream,” Finch adds. “So we are really excited about the growth opportunity and the excitement opportunity that the fandom can bring once we’ve got a new platform to expose AEW to.”