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AEW's TV Future Hangs in Balance as Warner Bros. Discovery Sale Looms

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  Published in Media and Entertainment on Friday, November 7th 2025 at 5:53 GMT by Wrestling News
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AEW’s TV Future Hangs in Balance as Warner Bros. Discovery Sale Looms

All Elite Wrestling (AEW) has long relied on a partnership with Warner Bros. Discovery (WBD) to air its flagship program AEW Dynamite on TNT. The network, a core property of WBD’s broadcast portfolio, has been a critical platform for the company’s growth, delivering weekly episodes to a national audience and providing a steady stream of advertising revenue. Yet, with WBD’s announced sale of its Discovery assets to a consortium that could shift the company’s priorities, the future of AEW’s television presence has entered a period of uncertainty that is being closely monitored by fans, investors, and industry insiders alike.

The Sale and Its Implications

In March 2024, WBD announced plans to sell its Discovery, Inc. assets—including the Discovery Channel, TLC, Animal Planet, and a host of other cable and streaming properties—to a newly formed joint venture between Paramount Global and Apollo Global Management. This deal, which is valued at roughly $8 billion, is intended to streamline WBD’s core entertainment operations and reduce debt, but it also brings the fate of its broadcast subsidiaries into question. TNT, the home of AEW Dynamite, is a part of the “TBS, TNT, and Cartoon Network” unit that is slated for inclusion in the sale.

Because the sale is still pending regulatory approval and final closing, AEW has been left in a gray area: while the show will continue to air on TNT for the foreseeable future, it is unclear whether the new ownership will maintain the existing broadcast agreement or pursue alternative distribution channels. This uncertainty has prompted AEW to explore contingency plans, including potential streaming deals and agreements with other broadcast networks.

AEW’s Response

Tony Khan, the owner and president of AEW, has addressed the situation in a series of interviews and social media posts. “We’re excited to continue working with TNT for the foreseeable future,” Khan said in an interview with Wrestling Observer. “Our priority is to ensure that fans can continue to watch the product they love. We’re in conversations with our partners to secure the best possible path forward.”

AEW’s current contract with WBD reportedly extends through the end of 2025, giving the company a window to negotiate new terms or transition the show to a different platform. In a recent statement, AEW confirmed that its broadcast agreement includes a clause that allows for renegotiation in the event of significant corporate changes at WBD. “We’ve got a strong relationship with Warner Bros. Discovery, and we’re optimistic that a mutually beneficial arrangement can be found,” Khan added.

Potential New Distribution Avenues

With the sale of Discovery assets underway, some analysts predict that AEW may pivot to a streaming-based model. Warner Bros. Discovery’s streaming platform, HBO Max (now rebranded as Max), already hosts a variety of wrestling content, including WWE’s programming. In an interview with Bleacher Report, a Warner Bros. Discovery executive explained that the company is exploring ways to integrate live sports content into its streaming strategy. “Live events are a key driver for subscription growth,” the executive said. “We’re looking at how we can incorporate high‑profile live programming like AEW Dynamite into our platform.”

In addition, AEW has reportedly reached out to other major broadcasters, including CBS Television and Amazon Prime Video, to gauge interest in hosting the show. CBS has a history of carrying wrestling content, having aired WCW’s Monday Nitro in the past, and Amazon’s Prime Video has already secured rights to broadcast WWE’s Monday Night Raw in partnership with USA Network. “We’re open to exploring multiple options that could bring AEW Dynamite to a broader audience,” Khan said.

Impact on Viewership and Revenue

The sale’s effect on AEW’s viewership numbers remains a critical question. According to Nielsen ratings, AEW Dynamite averaged 0.6 million viewers per episode in the 2022–2023 season—a modest increase from its 2021 ratings of 0.5 million. The show’s demographic focus on millennials and Gen Z audiences makes it an attractive asset for both advertisers and streaming platforms.

However, a shift away from TNT could disrupt the show’s current viewership base. Streaming services, while offering the advantage of on‑demand access, may not capture the same real‑time audience engagement that live broadcasts provide. “Live wrestling is a cultural phenomenon,” said a former WWE executive who asked to remain anonymous. “If Dynamite moves to a streaming-only model, we risk alienating viewers who rely on the live experience.”

On the revenue side, AEW’s partnership with Warner Bros. Discovery currently generates advertising revenue that is shared between the two companies. A move to streaming could alter this dynamic, potentially favoring subscription revenue over advertising. AEW will have to weigh the benefits of a larger, more flexible streaming audience against the guaranteed ad income from cable broadcasts.

Looking Ahead

As the WBD sale progresses, AEW’s executives are preparing for all eventualities. “We’re drafting contingency plans to ensure a smooth transition,” Khan said in an interview with Sports Illustrated. The company is also investing in digital content and fan engagement strategies to reduce its reliance on traditional broadcast channels. Recent initiatives include the launch of the AEW Official app, which provides live streams, exclusive interviews, and behind‑the‑scenes footage for subscribers.

Industry observers anticipate that a definitive decision on AEW’s broadcast future will be announced by the end of 2024. The key will be whether the sale of Discovery assets finalizes and whether the new ownership structure is receptive to continuing the partnership. Until then, AEW fans can expect Dynamite to remain on TNT, while the company keeps its eyes open for new opportunities that could redefine the wrestling landscape in the era of streaming dominance.