All Elite Wrestling (AEW) is navigating a precarious crossroads as its broadcast partner, Warner Bros. Discovery (WBD), explores potential acquisition offers. Wrestling veteran and media executive Eric Bischoff has publicly cautioned that AEW’s future could be in jeopardy without a solid contingency plan for its television deal, especially as the promotion faces slipping cable ratings amid this corporate instability.
AEW’s TV Deal: A Lucrative Yet Risky Partnership
AEW recently secured a significant multi-year media rights contract with WBD, reportedly worth upward of $170 million annually, which keeps flagship shows Dynamite on TBS and Collision on TNT[1][3][7]. This deal marked a milestone by including simultaneous live streaming of AEW programs on Max starting January 2025, expanding the company’s audience reach into the digital streaming era[1][2].
Furthermore, AEW and WBD plan to offer pay-per-view (PPV) events at discounted rates on Max, signaling a deeper integration that could revolutionize wrestling content distribution[2].
Warner Bros. Discovery’s Uncertain Future Casts a Shadow
However, the stability provided by this landmark deal is threatened by Warner Bros. Discovery’s ongoing strategic review to maximize shareholder value, effectively putting the media giant up for sale and inviting acquisition bids from notable companies like Paramount, Netflix, and Comcast[3][4][6]. The looming acquisition has created anxiety among AEW insiders, given the unpredictable fate any new ownership might impose on AEW’s programming or its existing contracts.
Industry speculation highlights how such corporate upheaval could disrupt the continuity AEW has enjoyed in its broadcast relationships. Paramount’s interest, in particular, introduces questions about whether AEW might remain on familiar platforms or be forced to migrate if the merger proceeds[4].
Eric Bischoff’s Warning: Prepare a Backup Plan Now
Amid this uncertainty, Eric Bischoff stressed that AEW’s leadership must urgently develop a backup strategy to secure the promotion’s long-term broadcast future. Bischoff, known for his successful track record managing wrestling programming in volatile environments, expressed concern that AEW’s ambitions could be hampered if the WBD acquisition results in a corporate reshuffle or deprioritization of wrestling content[8].
“Without a plan B, AEW risks being caught flat-footed if their current TV partner changes hands or direction,” Bischoff told Ringside News in a recent interview. “To sustain growth and maintain market presence, AEW needs a fallback that safeguards access to television and streaming platforms.”[8]
Behind the Scenes: AEW’s Viewpoint
Sources close to AEW reveal that Tony Khan and his creative team are well aware of the risks but remain optimistic about their negotiations and future deals. “The leadership is proactively engaging with multiple partners to ensure there are no surprises,” shared a WWE insider familiar with AEW’s corporate strategy. “The recent media rights extension with WBD was a huge win, but they know the landscape is shifting fast.”[8]
This cautious optimism is reflected in AEW’s moves to expand digital presence and diversify revenue streams with streaming integrations and PPV promotions on Max, which some insiders believe is an attempt to future-proof the business against any changes at WBD.
Wrestling Ratings and Market Challenge
Compounding the challenges from the corporate side, AEW has also been observing a gradual dip in cable television ratings for its shows, a trend that Bischoff highlighted as a critical reason for needing a contingency[8]. The wrestling market competition remains fierce, particularly against WWE’s expansive media ecosystem, requiring AEW to maximize its distribution channels and fan engagement to remain viable.
The shift of AEW programming onto streaming platforms like Max signals a response to consumer behavior trends favoring digital access over traditional cable, underscoring the importance of stable, broad-reaching media arrangements.
What Could a Change in Ownership Mean for AEW?
The WWE vs. AEW rivalry is a dominant narrative in professional wrestling’s business landscape. With WBD’s sale in flux, AEW could face multiple scenarios ranging from renewed investment under a new owner to potential neglect if wrestling is not a priority for acquirers. Paramount’s potential merger could consolidate streaming platforms, possibly benefitting AEW by exposing it to a broader audience, but might also mean renegotiated terms or a forced shift in broadcast strategy[4].
According to media economics analyst Sean Rueter, “AEW’s biggest risk is losing the stability and promotional support that WBD has committed to. Any new corporate leadership could alter that calculus significantly.”[9]
Strategic Moves Forward
Industry experts suggest AEW’s optimal path involves:
Pursuing alternative TV and streaming partners beyond WBD to diversify broadcast options.
Investing further in digital content and social media engagement to reduce dependency on traditional broadcasts.
Building direct-to-consumer offerings like exclusive streaming PPVs and subscription content.
Maintaining flexibility in contract terms to allow for renegotiation or quick pivots amid ownership changes.
As wrestling fans watch closely, how AEW navigates this uncertain chapter could define its role in professional wrestling for years to come.
The situation surrounding AEW and Warner Bros. Discovery highlights the fragile intersection of entertainment and corporate strategy in today’s media environment. Eric Bischoff’s warning serves as a reminder that agility and foresight remain essential, even for a fast-growing wrestling powerhouse like AEW.