With Warner Bros. Discovery’s sale to Paramount Skydance moving closer to the finish line, the wrestling world is watching carefully to see how the deal could impact All Elite Wrestling.
AEW currently has multiple agreements tied to WBD platforms, including television rights on TNT and TBS, along with streaming, library, and pay-per-view distribution through HBO Max. On top of that, it was recently confirmed that WBD also holds a minority ownership stake in AEW — a detail that adds another layer of intrigue to the pending acquisition.
According to Dave Meltzer, that ownership piece may actually be the most straightforward part of the equation.
Speaking on Wrestling Observer Radio, Meltzer explained that if Paramount completes its acquisition of WBD, it would automatically assume control of all WBD assets — including its minority stake in AEW. In other words, Paramount would become a part-owner of AEW.
“The situation here is number one, Paramount will own a percentage, a very small percentage, but they’ll own a percentage of AEW,” Meltzer said. “Because WBD has an ownership stake. And that will be transferred to Paramount. So they’ll own part of the company.”
While that may sound significant on paper, Meltzer indicated the immediate impact may be minimal — and potentially even positive. If AEW remains profitable, as Meltzer claims it currently is, there would be little incentive for Paramount to make drastic changes.
He noted that if AEW were hemorrhaging money, the scenario could look very different. But without substantial losses on the books, a minority stake in a profitable wrestling promotion could be viewed as a worthwhile asset for Paramount to maintain.
Of course, there are still plenty of moving parts. The acquisition is not fully complete, and media mergers of this scale often bring restructuring and strategic shifts. Questions remain about AEW’s long-term future on TNT, TBS, and HBO Max under new ownership, as well as whether Paramount could eventually look to integrate AEW content into its own streaming ecosystem.
For now, though, the key takeaway is simple: if the deal goes through, Paramount won’t just be AEW’s broadcast partner — it will technically be part of the company’s ownership group as well.
As always in the ever-evolving world of media rights and pro wrestling, the real answers will come once the paperwork is finalized and the dust truly settles.