Warner Bros. Discovery Plans 2026 Split Raising AEW Media Rights Uncertainty

Warner Bros. Discovery (WBD) announced plans to split into two separate companies by mid-2026, creating 'Global Networks' and 'Streaming & Studios,' which raises questions about the future of All Elite Wrestling (AEW) programming. AEW currently airs its shows Dynamite and Collision on TNT and TBS, which will be part of the Global Networks division led by CFO Gunnar Wiedenfels, while streaming content on HBO Max falls under Streaming & Studios headed by CEO David Zaslav, who has a strong relationship with AEW founder Tony Khan. AEW's existing multi-year media rights deal with WBD is secure through 2027, with an option for 2028, ensuring its presence on traditional TV networks in the near term. However, the split complicates AEW's plans to expand pay-per-view events on Max (soon to be renamed HBO Max), as streaming assets transition under new corporate leadership. Industry observers note that while AEW's programming seems safe for now, the changing corporate structure and division of assets mean the promotion's long-term streaming strategy could face uncertainty. Overall, AEW's future depends heavily on ongoing relationships with top executives and its performance, amid broader strategic shifts at WBD.