For years, many speculated whether or not Warner Bros Discovery was greater than only a broadcast accomplice for All Elite Wrestling. Now, it appears to be like like that hypothesis might have been legitimate all alongside.
In response to The Hollywood Reporter, journalist Tony Maglio reviews that WBD does personal a minority stake in AEW. Whereas the precise proportion isn’t public, it’s mentioned to be lower than 10%—sufficiently small that neither get together is legally required to reveal it.
“Although WBD and AEW won’t ever say this aloud — as a result of at a lower than 10 % stake, they don’t legally need to — WBD owns a minority place within the latter. That place will stay with the World Linear Networks piece following the break up and spin and the shut of the Warner Bros. sale to Netflix,” Maglio writes.
This affirmation—although oblique—provides to AEW’s long-standing relationship with WBD, particularly as the corporate prepares for enormous structural adjustments amid its merger with Netflix.
Apparently, Tony Khan addressed this very subject throughout a media name forward of the WrestleDream pay-per-view in September 2023. Whereas he didn’t affirm any possession particulars, Khan made it clear he was open to WBD holding a chunk of the corporate—so long as he stored management.
“It’s one thing we’ve talked about so much,” he mentioned. “There was loads of conversations about that. It’s all the time been one thing I’ve been open to. Between Warner Bros. Discovery and myself, loads of the monetary and structural particulars of our partnership, we’ve been capable of hold between us, however there are issues which have all the time mentioned to be true, that I personal 100% of the voting inventory of this firm and that I’ve 100% of the choice making energy within the firm. I’ve been open to taking over extra partnerships or issues of that nature. Now we have a extremely nice deal, proper now, with Warner Brothers Discovery, and I might like to have an excellent longer settlement. As for them and their stake within the enterprise, that’s one thing that might be between us, however I might even be open to that, to Warner Brothers in a future deal, having a chunk or an even bigger piece, doubtlessly, however I might all the time need to preserve 100% voting management, as I’ve now, and need to preserve the vast majority of inventory, which I’ve now.”
“These are issues which can be vital to me, however in a future deal, these are issues I might be open to,” he continued. “There may be nothing unhealthy about it. We’ve seen in professional wrestling this yr a change of management. I’ve no real interest in a change of management. Would I be thinking about taking over extra funding? Yeah, doubtlessly. It must be on the proper numbers and it must make sense for us based mostly on how a lot our enterprise has grown this yr. As for a change or management or giving up voting inventory, no, I’ve no real interest in that.”
Whereas AEW has not formally confirmed WBD’s present stake, this report strongly suggests it’s already in place—and certain has been for a while. The larger query now’s how AEW’s future might evolve as WBD undergoes a significant transformation beneath Netflix’s possession.
May this minority stake ultimately develop into one thing extra? And can AEW’s streaming future be affected by who finally ends up controlling what?
What’s your tackle this reveal? Ought to Tony Khan hold all of the management, or is an even bigger WBD funding a wise transfer for AEW long-term? Tell us what you assume within the feedback.