AEW might have its hands full with slumping ratings and attendance, but now an even bigger threat is emergingand its coming from Netflix.
According to a Deadline, Netflix has officially hired financial advisory firm Moelis & Co to evaluate a potential bid for part of Warner Bros. Discovery. This includes interest in the companys streaming platforms and film division, which houses some of WBDs most valuable entertainment properties.
The streamer is looking into the possibility of a move on part of WBD, one source confirmed. Netflix has not commented publicly, but the move follows their previous work with Skydance Media during its bid for Paramount Global, giving them insider access to WBDs financials.
The news adds a major twist to the growing uncertainty surrounding AEWs television home. AEW currently airs Dynamite and Collision on TNT and TBSboth part of WBDs cable holdings. But if Netflix ends up acquiring WBDs streaming and studio business, it could set off a chain reaction that jeopardizes AEWs broadcast future.
Netflixs top execs havent exactly embraced legacy cable. In fact, co-CEO Ted Sarandos previously stated:
Even more concerning for AEW is Netflixs existing 10-year deal with WWE to air. That agreement makes WWE a centerpiece of Netflixs sports entertainment content strategyleaving little room for a competing brand like AEW.
Co-CEO Greg Peters also downplayed the need for mergers on Netflixs earnings webcast:
Still, the fact that Netflix is even evaluating a move on WBD raises red flags for AEW. If the cable networks are split or sold separatelyor de-prioritized entirelyAEW could find itself without a stable home in the middle of a volatile media shakeup.
For a promotion already facing declining viewership and live attendance, losing a national cable platform could be a knockout blow unless AEW finds a new partner quickly.
Do you think Netflix buying part of WBD puts AEW in danger? Should Tony Khan start looking for a new network now? Drop your take in the comments.
