Full Breakdown of AEW’s New Three-Year Deal with Warner Bros. Discovery Unveiled

On October 2, AEW and Warner Bros Discovery made headlines with the announcement of a new multi-year media rights deal, just ahead of the AEW Dynamite Five-Year Anniversary show. The groundbreaking deal, which includes streaming AEW programming live on Max, signals a major step forward for the wrestling promotion.

While the financial details were not officially disclosed, insiders told Variety that the deal was valued at “upwards of $150 million per year” when considering all elements. Dave Meltzer of the Wrestling Observer Newsletter has provided further insight into the terms, revealing that this deal spans three years and will bring in a staggering $555 million. The breakdown includes $180 million in 2025, $185 million in 2026, and $190 million in 2027, with an option for 2028 at an even higher rate.

This new deal ensures AEW’s programming will continue to air on TNT and TBS, while also expanding its reach to Max for live streaming and on-demand viewing. In addition, AEW’s pay-per-views will be offered on Max at a discounted rate, beginning in 2025, making it more accessible to fans across the U.S. The platform will be heavily marketed as the home for AEW PPVs, adding even more value to the subscription service.

Meltzer also touched on the future of ROH under Warner Bros Discovery, noting that there is interest in featuring ROH content on TruTV, but separate negotiations are still ongoing. Additionally, the long-rumored AEW Shockwave TV show will be shopped independently from the WBD deal, according to Meltzer.

Key Highlights:

• AEW and Warner Bros Discovery announced a multi-year media rights deal on October 2.
• The deal is valued at $555 million over three years: $180 million in 2025, $185 million in 2026, and $190 million in 2027.
• Max will stream AEW Dynamite and Collision live and offer pay-per-views at a discounted rate starting in 2025.
• Ring of Honor is being considered for TruTV, though separate negotiations are ongoing.
• The rumored AEW Shockwave show is being shopped independently from the WBD deal.
• Max will be marketed as the home for AEW PPVs, adding more value to the streaming service.

With this new deal, AEW is poised for continued growth and expansion. Fans can look forward to more exciting developments as the company strengthens its position in the wrestling industry.