In a deal that will make the company profitable in 2020 and beyond, TNT, Warner Media, and AEW have renegotiated and signed a new four-year contract that would keep Dynamite on the station through the end of 2023.
The four-year deal is worth $175 million, just under $45 million per year, and includes TNT having an option for 2024 at a significantly increased price.
The deal would also include adding another hour of television later this year, which would be taped on Wednesdays but air on another night, likely on TNT but could be on another Turner station. Full details of the new show have not been worked out past an agreement to add a third hour.
When the new show launches, the Wednesday tapings would expand and also include matches taped for the streaming show Dark, which would not be going away. This means there will be four hours a week of the product, allowing more time to showcase more talent, which has been limited by the current format.
AEW President Tony Khan noted that starting AEW was the biggest financial gamble he had ever taken and that the deal has resulted in it paying off far sooner than originally projected.
"When we launched AEW one year ago, we wanted to start a revolution that would disrupt the wrestling business, but everyone said it would take a strong weekly television partner to make AEW real in the eyes of everyone -- above all the fans," said Khan. "What virtually no one realized at the time was Kevin Reilly and TNT were committed to this very same movement from Day One, and their belief in us made it possible for AEW to think and act big from the start. Here we are, only three months into Wednesday Night Dynamite and now we've been extended through 2023! We're now making the ultimate statement that the team of AEW and TNT is here to stay to bring fans more of the great wrestling that the fans demand and deserve."
"When Tony Khan first shared with me his idea of starting a new wrestling league, I was impressed with his audacity to go up against a contender that has been the only game in town for 20 years, and ultimately believed that together we could bring his vision of a new, authentic, gritty product to bear," said Reilly. "The fans have spoken and after only three months, we have seen AEW shake up the wrestling world and this will only continue as we build upon this momentum."
Since its inception in October, AEW has skewed the youngest of any pro wrestling show on television as well as the highest in viewers per home, meaning more family and friends watch the show in groups than any other show.