With ratings and attendance on the decline, there have been concerns for a while that AEW might struggle to find a home when it came time to negotiate a new deal with Warner Bros. Discovery.
Well, the news is much better than expected because in a deal believed to be worth at least $150 million a year, AEW Dynamite will remain on TBS, with AEW Colission set to continue airing on TNT every Saturday. AEW Rampage, however, appears to have been cancelled.
Still, AEW programming will now also stream on Max, with PPVs set to be offered on the platform at a discounted price. That could ultimately help increase the company's audience so the deal turned out pretty well for Tony Khan as best we can tell.
The agreement is also described as a "multi-year renewal" and even though things can always change in sports and entertainment, it's fair to say AEW is safe where it is for the foreseeable future.
You can read the full press release below.
Warner Bros. Discovery and All Elite Wrestling (AEW) today announced a multi-year renewal of their highly successful five-year relationship with an expansive multi-platform media rights agreement that will provide fans with the widest available access ever to AEW’s most popular programming.
WBD’s networks and platforms will remain the exclusive home of AEW Dynamite (Wednesdays on TBS) and AEW Collision (Saturdays on TNT), with enhanced distribution rights across social platforms as well as building opportunities for additional AEW programming for linear and digital platforms in the future.
Additionally, for the first time, all AEW Dynamite and AEW Collision programming starting January 2025 will stream live exclusively on Max (U.S. subscribers only). All AEW programming airing on WBD’s networks will also be available to stream on demand on Max.
AEW and WBD will also collaborate to distribute AEW live pay-per-view events on Max at a discounted price per event, with all marketing and promotions of those PPV events exclusively centered on Max. AEW PPV distribution on Max will begin later in 2025, with additional information and pricing to be shared in the coming months.
"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, WBD. "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."
"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."
Since its inaugural year in 2019, AEW has collaborated with WBD to build a next-generation, pro-wrestling franchise with captivating stories, dynamic and diverse characters, and energetic events all year round. AEW programming has reached more than 33 million fans this year across TBS and TNT, with AEW Dynamite on TBS ranking as Wednesday’s #1 cable entertainment program among P18-49. AEW Collision also ranks among the top 5 programs in its Saturday time slot among P18-49 and M18-49.
The addition of AEW’s popular programming on Max adds to an already robust slate of live programming available to U.S. subscribers, including CNN Max — a 24/7 live news stream featuring live news and programming, and in-depth reporting of all of the biggest news each day and the upcoming U.S. election cycle from CNN’s global news team; and, the B/R Sports Add-on, featuring live coverage of the upcoming MLB postseason, NHL and NBA regular seasons, NCAA Men's March Madness, US Men’s & Women’s National Team soccer matches, Bellator MMA, Mountain West college football, MotoGP, FIA World Endurance Championship, world cycling, and — in 2025 — NASCAR, Roland-Garros tennis, and BIG EAST men’s and women’s college basketball.