A major corporate development in the media industry could potentially have significant implications for All Elite Wrestling and its television future.
According to Dave Meltzer in the Wrestling Observer Newsletter, Tony Khan was reportedly “thrilled” by the news of a proposed acquisition involving Warner Bros. Discovery and Paramount Global.
While the deal has not been finalized, the potential purchase has already sparked intense speculation about what it could mean for AEW’s long-term television position.
Meltzer wrote that people close to Khan believe the scenario could ultimately benefit AEW, but others see a possible downside depending on how the new ownership structure prioritizes its sports properties.
“The most important news story in wrestling, as far as the future and viability of AEW, is just a tiny piece of the puzzle in the proposed Paramount purchase of WBD,” Meltzer wrote. “Those close to Tony Khan say that he was thrilled when the news came out, feeling this was the best possible scenario for him.”
However, some observers believe the situation could turn problematic due to Paramount’s existing business ties with TKO Group Holdings, the parent company of WWE.
Paramount already maintains contracts involving combat sports properties connected to TKO, including Ultimate Fighting Championship and Zuffa Boxing. Because AEW represents the most significant direct competitor to WWE in the wrestling market, some believe TKO could attempt to use those relationships to pressure Paramount into removing AEW programming.
Beyond television, the deal could also reshape the streaming landscape. Paramount Skydance CEO David Ellison has previously stated that the plan would involve merging the streaming platforms HBO Max and Paramount+ into a single unified service.
If combined, the platforms would bring together over 200 million global subscribers based on recent figures. HBO Max currently has about 135 million subscribers worldwide, while Paramount+ has approximately 79 million.
Such a merger could dramatically reshape where combat sports and wrestling content lives in the future, depending on whether AEW programming remains part of the combined media ecosystem.
