A new feature published by CNN.com examining the growing intersection between professional wrestling and political themes has sparked conversation for more than one reason.
While the article primarily focuses on what it describes as a “politically shaded rivalry” between AEW and WWE, it also makes a notable claim: that Warner Bros. Discovery — CNN’s parent company — owns a minority stake in AEW.
CNN’s Ownership Claim
In the piece, CNN writes:
“The embrace of contemporary issues is part of a larger, politically shaded rivalry playing out in the industry, between the 7-year-old AEW and the industry’s ruling juggernaut for generations, WWE (Warner Bros. Discovery, CNN’s parent corporation, owns a minority stake in AEW).”
That line has raised eyebrows, as AEW President Tony Khan has consistently avoided confirming whether WBD holds any equity in the promotion. Since at least 2023, Khan has repeatedly stated that he maintains full control over AEW’s decision-making, though he has not directly confirmed or denied whether Warner Bros. Discovery owns a financial stake.
If WBD’s ownership were to exceed 10 percent, it would generally require public disclosure due to securities regulations tied to publicly traded companies. As of now, no such filing has been publicly highlighted.
It also remains unclear whether any ownership component may have been included as part of AEW’s most recent media rights agreement with WBD.
What Happens If AEW Leaves WBD?
The ownership question becomes even more interesting when considering the broader corporate landscape.
Warner Bros. Discovery has been the subject of acquisition discussions, with Paramount and Netflix both reportedly exploring different types of deals.
- Netflix’s reported proposal would involve acquiring WB’s film studio, HBO, and HBO Max, with linear television assets potentially spun off.
- Paramount’s reported interest is in acquiring the entire company, keeping television networks and streaming assets under one umbrella.
If WBD does in fact own a minority stake in AEW, questions naturally follow:
- What would happen if AEW signs a future media deal outside of WBD?
- Would ownership transfer in a corporate acquisition?
- Could that impact AEW’s long-term television positioning?
At this point, those questions remain speculative.
Politics In Pro Wrestling: A Long History
Beyond the ownership note, the article focuses heavily on how political themes continue to surface in wrestling storylines and fan reactions.
CNN points out that wrestling has historically drawn from real-world political tensions for dramatic effect. The article references Sgt. Slaughter’s infamous Gulf War-era heel turn, in which he aligned himself with Iraqi sympathies during the height of U.S. tensions — one of the most controversial angles in WWE history.
More recently, AEW has found itself at the center of attention following politically charged chants at live events.
“F— ICE” Chants At AEW Events
The article highlights chants that occurred during recent matches involving MJF and Brody King.
At AEW Grand Slam Mexico last June, King wore an “ABOLISH ICE” shirt. Fans in attendance at AEW Grand Slam Australia reportedly chanted “F— ICE” during King’s title match against MJF. That event is scheduled to air on tape delay at 8:00 PM ET on TNT and HBO Max.
CNN also quoted Eero Laine, a theatre professor at SUNY Buffalo who studies the history of professional wrestling. Laine noted that the chants were unusual in wrestling terms:
“They are interesting in that they support a political stance associated with one of the wrestlers, but they are not necessarily directly related to what’s happening in the ring. And the chant is not part of the repertoire of standard wrestling chants.”
AEW vs. WWE: A “Politically Shaded Rivalry”?
The broader framing of the article suggests that AEW and WWE’s competition is no longer limited strictly to ratings and creative direction, but also cultural positioning. While WWE has largely avoided overt political messaging in recent years, AEW crowds — and occasionally talent — have shown a greater willingness to reference contemporary issues.
Whether that reflects company philosophy or simply organic fan behavior is open to interpretation.
What is clear is that CNN’s mention of a potential Warner Bros. Discovery minority stake in AEW is likely to fuel renewed discussion about the true nature of the partnership between the media giant and the wrestling promotion.
As of this writing, AEW has not publicly addressed the claim.
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