New details emerge about AEW’s future with Netflix, WBD ownership stake
AEW will not be going to Netflix if the streaming giant completes their anticipated acquisition of the Warner Brothers studio and other assets.
The Hollywood Reporter delved into the 519-page SEC document that came out Tuesday morning that heralded Netflix’s all-cash adjustment to their offer to acquire the aforementioned assets from WBD, leaving the cable channels behind.
In their research, they surmised that because AEW wasn’t specifically mentioned in the document that after the deal is done, AEW programming, including PPVs, are expected to continue streaming/simulcasting on HBO Max through the end of their current contract which ends in 2027 or 2028 if their one-year option is picked up.
Other secondary WB rights were mentioned in the document including Turner Classic Movies.
They opined that AEW would likely join the Turner Sports streaming app that would be operated by Global Linear Networks (GLN), the company that would hold all the assets not being taken by Netflix. However, they also speculated that some kind of non-exclusive arrangement could be cut where both HBO Max and Turner Sports air AEW events in some form or fashion. All of this would be assuming AEW remains with the GLN entity after the current deal is up.
The report confirmed that WBD owns a minority stake in AEW which will remain with GLN post-Netflix sale. The stake in AEW would have to be less than 10% or else WBD would need to publicly disclose that information. AEW head Tony Khan has been asked to confirm this before and while he has never done that, he has also never denied it.
The report opined that Netflix/HBO Max would probably not fight to keep AEW, perhaps due to an unconfirmed non-compete clause TKO incorporated into their Netflix deal — “a relic of the old days.”
Their research also noted that WWE programming airs on GLN owned networks in Italy and that according to projections, Netflix will hold UFC rights in Italy, San Marino, Spain, Andorra, the Netherlands and Vatican City in the next 12-to-18 months.
Since 2011, Josh has been a contributing editor to Wrestling Observer/F4WOnline.com and also hosts the Punch-Out podcast. He has also written for Fight Magazine, Bloody Elbow, Bleacher Report, and other websites. He's a 2000 graduate of the University of Maine, worked in pro sports, and once was an indie ring announcer.