What Netflix Buying Warner Bros. Means For The Future Of Professional Wrestling (It's Complicated)

Netflix has acquired Warner Bros. in a move that will reshape Hollywood, but will it have an impact on All Elite Wrestling? For anyone who's unaware, AEW is the second biggest wrestling promotion in North America, meaning that it's a direct competitor to WWE. As you likely know, Netflix airs "WWE Raw" and select premium live events in the United States (plus "WWE SmackDown" and "NXT" in international territories), so will the streamer sabotage Tony Khan's challenger promotion to aid WWE? We already anticipate the WB-Netflix agreement hurting theatrical releases, but its effect on the wrestling landscape is more complicated.

For now, Netflix only appears to have acquired Warner Bros.' movie and television studios, as well as HBO Max. TV channels like TBS, TNT, and CNN are unaffected, which bodes well for AEW... at least for now. The company's weekly shows, "Dynamite" and "Collision," will continue to air on TBS and TNT until 2027 (with the option of an extra year), when AEW and WB's current media rights agreement expires. Whether AEW and Warner Bros. renew their agreement remains to be seen, so who knows what the future holds?

With that being said, WWE executives won't be happy about Netflix partnering with an organization that works with its main competitor — not unless it leads to AEW getting tossed aside. The sports entertainment giant has a history of trying to monopolize the wrestling industry (see: the acquisitions of WCW, ECW, and AAA) and using its influence to crush competitors. With Netflix having so much influence over Warner Bros., and WWE being one of the streamer's tentpole properties, it wouldn't be surprising if AEW moves elsewhere after 2027. That said, Khan's promotion has one thing working in its favor that could lead to a surprise.

Right now, most wrestling fans probably expect AEW and Warner Bros. to part ways after 2027/28. Sure, "Dynamite" and "Collision" could continue to air independently on TBS and TNT as part of the Netflix-WB agreement, but it doesn't seem likely when internal politics are considered. WWE and Endeavor's top brass will try to use their influence over Netflix to damage WB's relationship with AEW, and that isn't even a conspiratorial statement.

WWE has a history of counterprogramming AEW events to hurt its viewership figures, attendances, and revenue. This is a wrestling war — a sentiment expressed by officials in both companies — so there is no way WWE execs will be cool with AEW continuing to work with WB and potentially developing a relationship with Netflix. That said, what if this leads to AEW ultimately becoming Netflix's chosen wrestling promotion?

For years now, WWE has siphoned off its product to the highest bidders. If U.S. fans want to see everything the company puts out, they need access to Netflix, USA Network, The CW, and ESPN. By contrast, AEW president Tony Khan has always been fiercely loyal to Warner Bros. — so much so that he even named two of his company's titles after TNT and TBS — and maybe that will count for something?

When WWE's Netflix deal expires (sometime in the next 5-10 years), "Raw" and the premium live events will no doubt be auctioned off to the highest bidder. If AEW and Warner Bros. remain long-term partners, Netflix could potentially acquire a new wrestling product (probably for a fraction of the cost of WWE's media rights fees). This is a big what if scenario, but it's worth considering while the speculation is runnin' wild.