Update: This story was based on a report by Ringside News which has since retracted its story. The good news is HBO Max will keep AEW but not exclusivity. Sean Ross Sapp of Fightful Select did confrirm to Cord Cutters News though that HBO Max has lost Exclusicity to AEW. Here is the original story:
HBO Max’s All Elite Wrestling (AEW) has quietly shed a major contractual leash and could be free to pursue a new streaming or broadcast partner, according to Sean Ross Sapp of Fightful Select — a development first flagged by Ringside News. Speaking on the Q&A section of the Backstage Report, Sapp said AEW “does not have exclusivity with WBD any longer,” which opens the door for the promotion to talk to other networks and streamers about where to place its programming.
AEW airs weekly on TNT, TBS, and truTV, and has also expanded its streaming footprint: HBO Max began offering AEW pay-per-view events, starting with All Out, making the service a one-stop place for marquee AEW events and weekly programming. AEW PPVs are available on HBO Max at $39.99 — cheaper than some other distributors — further deepening perceptions that Max had become a modern streaming home for the promotion.
“Yes, they can. They do not have exclusivity with WBD any longer… So they can talk to other partners…” — Sean Ross Sapp, Fightful Select [transcript relayed by Ringside News]
Sapp also stressed a structural advantage AEW enjoys: Warner Bros. Discovery does not own AEW or a major percentage of it, meaning AEW president and CEO Tony Khan retains the leverage and control to move the product where it makes the most business sense.
AEW’s Timing, WBD’s Future, & The Wrestling Landscape
The apparent end of exclusivity comes amid a major corporate reshuffle for Warner Bros. Discovery. Multiple parties — including reports Netflix and Paramount are eyeing WBD assets — are circling the company, and any buyer’s strategy for HBO Max could directly affect AEW’s future. If Netflix acquires WBD assets, for example, AEW’s fate would be tied to how Netflix chooses to handle live weekly programming and pay-per-views.
Meanwhile, the wrestling and combat sports landscape is being reshaped by other huge deals. TKO Group, the parent company of the WWE and UFC, has deep relationships across the media industry. WWE has a wide-ranging Netflix deal and a domestic PLE arrangement tied to ESPN, while UFC’s exclusive U.S. rights landed in a massive $7.7 billion, seven-year pact with Paramount.
Paramount, which is interested in WBD, could combine Paramount+ with HBO Max, creating one of the largest streaming footprints and libraries in the U.S., and reshape AEW’s future.
Plus, WWE has other domestic rights deals with The CW, FOX’s Tubi, NBCUniversal’s Peacock, and soon-to-be Versant’s USA Network. Notably, in previous media deals, WWE was able to negotiate the right for contractual control over combat sports airing on its TV partners’ networks, per UFC president Dana White.
With TKO Group spreading out content and distribution across various media juggernauts, it could realistically tighten the field of potential AEW partners and weaken negotiating leverage.
An All Elite Adjustment to the Digital Shift
As the media landscape continues to change, not everything is negative for AEW. Should talks with legacy media stall, AEW can pivot to a digital-first strategy—think YouTube, Prime Video, Apple TV+—or embrace a hybrid model that mixes old-school reach with modern streaming power.
With more subscribers cutting the cord and going digital only, Sapp pointed out that AEW would follow consumer viewing habits: “Like if they had to do Dynamite on YouTube, for the love of God, they would still do it.”
As Sapp explained via Fightful Select, AEW’s position now allows them to explore options in ways that weren’t possible before. He noted that “…and they can even say, they could hypothetically say, ‘Here’s another show we’re shopping in the event that so-and-so happens.’”
That kind of leverage means AEW isn’t boxed into just renewing Dynamite or Collision. It can dangle new programming concepts like a developmental series, reality content, or international specials to attract partners who might want fresh content as part of a larger rights package.
Moreover, AEW’s recent integration of PPVs into HBO Max shows it can negotiate modern streaming-first deals that reduce friction for viewers. Unlike their wrestling rival, AEW’s content can be found on one place, so viewers don’t have to switch between apps to watch.
A future deal, combined with their willingness to experiment with distribution if necessary, could bring another financial break for fans in a crowded streaming and sports-rights market. Additionally, AEW’s weekly live schedule and dedicated audience are selling points for any platform that wants to pair appointment viewing with subscriber growth.
For now, AEW’s TV agreement, the next year of corporate maneuvers around WBD, and its possible suitors will determine where the promotion lands. The wrestling promotion could find itself on a platform that expands its audience, or into a fragmented setup that forces fans to juggle multiple subscriptions.’
Credit: Fightful Select, Ringside News