Tony Khan says Paramount acquiring WBD will be ‘great for AEW’

While the deal has yet to be closed, AEW head Tony Khan is looking forward to the day when Paramount Skydance officially acquires Warner Bros. Discovery.

While in New York to promote Sunday’s Double or Nothing pay-per-view in Queens, New York, Khan appeared on a short segment on Bloomberg TV‘s The Close to talk about AEW business.

During that conversation, he was asked about the changes given Paramount’s business relationships with WWE owners TKO, but Khan remains positive the merger will be a positive for his company.

“I am very excited about Paramount acquiring WB and Paramount and WB coming together. This is going to be great for AEW,” later answering “100%” when asked if he thinks Paramount will stick by AEW post-merger.

During the conversation, he reiterated past statements about his strong relationship with Paramount head David Ellison through their NFL ties.

The current AEW/WBD domestic rights deal runs through 2027 with WBD holding a one year extension option. There is currently no wrestling programming on Paramount Plus or its current networks.

“With the power of HBO Max and Paramount Plus together, it’s more buyers for our PPVs and more people watching the AEW shows. I think it will make TBS and TNT stronger cable channels with Paramount and David Ellison coming in,” Khan said.

The proposed acquisition is making its way through the process now with more hurdles for both sides to overcome.

Heels, Heroes & Hardcovers: Looking at the first issue of the AEW/DC Comics crossover

Comics and wrestling obviously have a lot in common as colorful costumes, outlandish characters and fiendish schemes all cross over from the panel to the squared circle. The results can be really fun like wrestler “Hurricane” Helms (a big comic book fan) or the litany of comic-inspired gear worn by legends like Rey Mysterio.

When it goes the other way, however, the results can be… mixed. 

Wrestling has tried many, many times to break into the world of comics. Origins of characters like The Undertaker, or WCW legends have found their way to the printed page. As wrestling fans grew up and started making comics, some of these books evolved into fun stories that can even add context to on-screen wrestling storylines. 

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The latest wrestling entry into the comic book world was the crossover “event” DC x AEW. In this two-issue series, the heroes of the DC Universe teamed up with some of AEW’s top stars to save the universe. It should also be noted that AEW minority owner WBD also owns DC Comics, making this a tag team of corporate synergy like never before. 

Here’s a review of the first issue.

DC x AEW #1 (DC Comics)

Written by Steve Orlando | Art by Travis Mercer

Our story begins at AEW x WAM: Forbidden Door. WAM is a multi-dimensional promotion called Wrestling Across the Multiverse, and Mercedes Mone is taking on the WAM Intergalactic Champion, Deceilia Starshame. Starshame is a legit DC Comics alien (although I’ve been reading comics for 35+ years and have never heard of her).

At any rate, Mone wins the belt (through nefarious means, including using “Radon” knuckles). 

Starshame is so mad that she destroys the championship belt, and most of the arena with it, and then disappears. That brings in the Justice League. Batman and Hawkgirl figure out that the belt was made of Element X, the building blocks of all reality and it wasn’t destroyed. Rather, it was just shattered and sent into the unknown.

The Justice League decides that it’s up to them to find and reassemble the shards and without asking anyone else, Mone declares that since it’s her title, the AEW roster needs to help. The League agrees and everyone pairs off. Also, they all must be really good friends off tv because everyone seems to know who everyone is. 

Now, before we get into these AEW/DC Hero missions, I should mention that virtually none of them really end. For example, Nightwing and Will Ospreay head to Bludhaven where they defeat a gang of very bland sub-level League of Assassins ninjas and teleport their shard back to Mr. Terrific in the Justice League Watchtower satellite.

After that, Ospreay tries a Storm Driver ‘93 on one of the ninjas and Nightwing freaks out, thinking he’s going to kill him. Before he does though, it’s over and we’re on to the next pair. So… maybe Ospreay killed a ninja? 

¯\_(ツ)_/¯

Anyway, Green Lantern Guy Gardner and Jon Moxley head to a random city where the Mutant Gang from The Dark Knight Returns has made a home. This is the only indication to me that anyone who has ever even read a comic was involved in this book. Gardner takes out the minions, while Moxley fights the Mutant Leader, winning with a Green Lantern-made barbed wire elbow to get a hold of their shard. 

In “Limbo Town,” Hawkgirl and Hangman Page fight the puritanical Grim Magistrate and his army of undead inquisitors. They get the shard, teleport it away, but are about to be overrun. So, Hawkgirl produces two pistols that she had with her for reasons and gives them to Hangman who simply shoots them all in the face. 

We switch gears to where Swerve Strickland and Green Lantern John Stewart are fighting magic dinosaurs conjured by the C-level wizard, Deimos. They play up that both Stewart and Strickland are ex-military and after they teleport their shard, Stewart Green Lanterns up a huge gun for Swerve to… shoot the dinosaurs? I have no idea. 

The unlikely duo of Harley Quinn and Orange Cassidy wipe out the Royal Flush Gang, but after they send their shard back, Cassidy cops an attitude because Harley was thinking about giving the shard to The Joker. Zatanna and “Timeless” Toni Storm head to the mythical land of Staten Island to face F-level villain Johnny Sorrow. Zatanna uses her magic to make Storm appear, and Storm takes out Sorrow with one of her high heels, which tracks.

In the Underworld, Wonder Woman and Willow Nightingale fight against the Mother of All Monsters, Echidna and her slew of Skeletal Sentries. They get the drop on Wonder Woman, but Nightingale uses her lasso to subdue the monsters and claim their shard. Batman and Darby Allin head to Gotham’s underground where Joker takes a pot shot at Allin, calling him “Goth Robin.” 

Across the river in Metropolis, Kenny Omega is battling his way through Intergang solo for some reason, when Bane shows up. Bane decides he wants the shard, so Omega uses some fun new technology to zap him and take him down. Then it’s revealed that Omega’s partner has been a Mother Box, which if you aren’t familiar with, is a sentient computer from the other side of the universe. How did he get it? Who knows. 

Finally, Aquaman and Mone wrestle the last shard away from the monstrous undersea race known as The Trench. Mone helps out by using yet another big, unnecessary gun and she and Aquaman head to a temple where the shards of the belt are being re-forged into the Intergalactic Title. 

As Aquaman is admiring the title, mentioning that it still needs a coating to hold in the power, Mone, true to form, betrays the Justice League and hits Aquaman from behind. She nails him in the back of the noggin with her new finishing move (the “Very Large Laser Gun”) to the head. Mone then straps the InteRgalactic title around the waist of her real partner in all this: Lex Luthor.

Final Impressions: 

Artist Travis Mercer provides some really great art for this issue with clean crisp lines and bold layouts that casual and long-time comic readers will enjoy. Steve Orlando has written hundreds of comics and does his best with what he’s handed here, but I couldn’t for the life of me figure out why none of the fights ended, or what happened to anyone after the fact.

Also, where’s Superman? That guy fought Muhammed Ali, you’d think he’d be involved in this belt chase.

Throughout the book, “commentary” on the various adventures is provided by Excalibur and Booster Gold. Why? Beats me. They also don’t say who they are supposed to be commenting to or how, but it does tie things together a bit and help to sell the pairings by providing a little context.

For example, Excalibur wonders if Batman and Allin will make a good team because one is very methodical and the other is very impulsive. There’s a whole lot of “can they coexist?” energy throughout the book, which wrestling fans will dig. 

Making comics involving “real” people is hard. Many comic companies have tried this and it’s resulted in horrible books. DC x AEW comes close to this, but because they are able to use wrestling characters instead of the “real” people behind them, it kind of works.

Wrestling characters are as over the top as comic characters, so why not? I think it was very cool that the comic versions of the wrestlers were pretty true to their on-screen personas, especially Mone. 

Of course, there’s still issue #2 to consider…more on that soon.

Jeff Moss is a writer for F4W, but prior to that, he owned and operated a comic book store in Montreal, Canada. A lifelong comics fan, Jeff has also written, edited, and published comics and graphic novels since 2009. His current comics work includes digging through his dusty long boxes muttering “why do I own this?”

First trailer released for John Cena’s ‘Coyote vs. ACME’ movie

John Cena confirmed the official trailer and release date for Coyote vs. ACME. The film was primarily filmed in New Mexico in 2022 but was shelved by Warner Bros. in late 2023. 

Cena tweeted that the movie is slated for release on August 28, and shared the trailer.

“The biggest cartoon court case ever! Coyote vs. ACME. In theaters August 28,” posted Cena. 

The 2D animated cum live-action film is centered around Wile E. Coyote suing the Acme Corporation for the many traps that backfired in his relentless pursuit of the Road Runner. Will Forte portrays Coyote’s lawyer, Kevin Avery, while Cena is Buddy Crane, a ruthless corporate attorney representing Acme Corporation.

The Looney Tunes project was allegedly shelved due to cost-cutting decisions by David Zaslav, CEO and President of Warner Bros. Discovery.

Last weekend, Cena hosted WWE WrestleMania 42, four months after his in-ring retirement. 

TNA Wrestling, WBD owned Eurosport India sign new TV rights deal

TNA Wrestling and WBD owned premium sports channel Eurosport India announced a new multiyear TV rights deal on Wednesday.

The deal, which is a continuation of their existing one, begins in July 2027 and will see viewers in India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives and Afghanistan get access to “hundreds of hours of TNA’s first-run original content.”

From the language in the release, the new contract is a consolidation of prior arrangements into “a single exclusive partnership.” Both sides have been working together since the first quarter of January 2020.

It includes Thursday Night Impact, a Hindi-language localized show called Pehlwani Patakha which is a highlights and history offering, access to TNA monthly specials and pay-per-views, plus select archive content.

It’s the latest positive business news in a week that included increased numbers for Impact on AMC domestically and a new partnership with iHeartMedia that includes branding, promotion, and both radio and podcast opportunities.

TNA’s next big event is next Friday’s Sacrifice from New Orleans, Louisiana.

Tony Khan AEW media call notes: Samoa Joe update, MyAEW goals, Big Boom AJ

While the most notable quote from Tony Khan’s media call Thursday was regarding a desire to be on the same channel and platform as UFC, he did give a brief update on former AEW World Champion Samoa Joe.

Khan said Joe is recovering from injuries and is optimistic for his return soon. The star has been out of action since a January 21 Dynamite win over Mike Bailey. A February report had him in concussion protocol with Joe himself saying last week he’ll be back “sooner than later.”

He was also asked about MyAEW and whether it could become a domestic provider of PPV in addition to international given the uncertain future with Paramount & WBD. Khan said he has a great relationship with Paramount from his NFL ties and a great relationship with David Ellison and thinks the world of him. He said MyAEW has nothing to do with the WBD relationship.

Khan said MyAEW and is about reaching as many international fans as possible as it’s available in 150 countries worldwide. He said their domestic strategy is driving fans to HBO Max for PPVs while they do have other providers. He did not mention Triller.

Here are some other topics Khan was asked about:

  • Asked about ROH’s TV future given the new TV taping structure, Khan says they still have “great revenue” coming from the ROH streaming service. He’s been still looking at opportunities and is excited for those opportunities, especially post-Paramount/WBD sale. He says people are having fun in ROH and is looking forward to next weekend’s set of tapings.
  • Asked if Big Boom AJ sets the tone for future celebrities in AEW in terms of repeat appearances, Khan put over his wrestling past training in OVW and that people don’t really know that. He said the influence he has bringing fans in is something everyone is very cognizant of, especially when Big Justice and The Rizzler are with him. Everyone enjoys them being there.

Khan was also asked about Brody King, the Hangman Page World title stipulation and more.

Click here for the full & free audio.

WOR: Raw report, WWE and WBD business notes, more!

Wrestling Observer Radio with Bryan Alvarez and Dave Meltzer is back with tons to talk about including lots of WBD and WWE business notes from various conference calls, ratings notes, Arena Mexico highlights from Friday, Johnny Consejo is bald, Demolition going into the Hall of Fame, Ishii hurt, the RAW report, WE GOTTA TALK ABOUT JEFF JARRETT, and more! A fun show as always so check it out~!

Timestamps:
Start: Paramount conference call on WBD
17:54: Mark Shapiro says people paying so much for ESPN Unlimited impacts TKO
22:04: Ratings notes
32:16: 2026 WWE Hall of Fame location announced, Demolition to be inducted
37:17: Arena Mexico notes
51:32: Tomohiro Ishii out of NJPW Cup
53:37: WWE Raw recap
1:23:03: Lineups for the week, Jeff Jarrett documentary

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Netflix declines to raise offer after Paramount’s ‘superior’ bid for WBD

Netflix has announced it will not increase its offer to acquire Warner Bros. Discovery.

Earlier this week, WBD said in a press release that it had received a revised offer from Paramount Skydance that it determined was “superior” to Netflix’s existing deal, triggering a four-business-day window for Netflix to match or improve its bid.

The move means WWE’s streaming partner Netflix is out of the running to purchase Warner Bros. Discovery, which owns a 10 percent stake in All Elite Wrestling and airs its programming.

In a press release issued Thursday, Netflix confirmed it is declining to raise its offer, with co-CEOs Ted Sarandos and Greg Peters stating:

The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid. 

Warner Bros. is a world-class organization, and we want to thank David Zaslav, Gunnar Wiedenfels, Bruce Campbell, Brad Singer and the WBD Board for running a fair and rigorous process. We believe we would have been strong stewards of Warner Bros.’ iconic brands, and that our deal would have strengthened the entertainment industry and preserved and created more production jobs in the U.S.  But this transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price.

Netflix’s business is healthy, strong and growing organically, powered by our slate and best-in-class streaming service. This year, we’ll invest approximately $20 billion in quality films and series and will expand our entertainment offering. Consistent with our capital allocation policy, we’ll also resume our share repurchase program.

We will continue to do what we’ve done for more than 20 years as a public company: delight our members, profitably grow our business, and drive long-term shareholder value.

The full Netflix press release is available here.

CNN confirms WBD ownership stake in AEW

In a story released Saturday discussing the role politics is taking in both WWE and AEW, a sentence in the middle of the article confirmed what has been known for some time: that WBD owns a portion of AEW.

The article on CNN’s website, an entity also owned by WBD, wrote within a paragraph that “(Warner Bros. Discovery, CNN’s parent corporation, owns a minority stake in AEW).”

AEW head Tony Khan has been asked about this for years on media calls, but has never confirmed or denied it. In those non-confirms, Khan has made a point to note that he owns 100% of the decision-making within AEW.

The question of how much WBD owns has not been answered, but if it was more than 10%, they would need to disclose that as they are a publicly traded company. It’s also unclear what rights they have with that ownership, whether the percentage they own increased with the latest media rights deal, and what would happen to the shares if AEW was to move to another media entity.

JNPO: What did John Pollock learn about wrestling in 2025?

On a snowed in edition of Josh Nason’s Punch-Out, warm up by the podcast fire with the returning ⁠John Pollock⁠ of ⁠Post Wrestling⁠.

The guys talk for nearly an hour on what they learned about wrestling in 2025 with some hot takes about WWE, AEW, wrestlers, leadership and even some Linkin Park. (Yes, that Linkin Park.)

For example: Is TKO good for WWE and pro wrestling? Is WBD as good a partner to AEW as Netflix is for WWE? What is happening with DWAYNE and Triple H? Why are the rosters so damn bloated in the middle?

Revelations await. Join us.

Click here to listen for free or stream for free on either Spotify or Apple Podcasts. Just search Wrestling Observer.

New details emerge about AEW’s future with Netflix, WBD ownership stake

AEW will not be going to Netflix if the streaming giant completes their anticipated acquisition of the Warner Brothers studio and other assets.

The Hollywood Reporter delved into the 519-page SEC document that came out Tuesday morning that heralded Netflix’s all-cash adjustment to their offer to acquire the aforementioned assets from WBD, leaving the cable channels behind.

In their research, they surmised that because AEW wasn’t specifically mentioned in the document that after the deal is done, AEW programming, including PPVs, are expected to continue streaming/simulcasting on HBO Max through the end of their current contract which ends in 2027 or 2028 if their one-year option is picked up.

Other secondary WB rights were mentioned in the document including Turner Classic Movies.

They opined that AEW would likely join the Turner Sports streaming app that would be operated by Global Linear Networks (GLN), the company that would hold all the assets not being taken by Netflix. However, they also speculated that some kind of non-exclusive arrangement could be cut where both HBO Max and Turner Sports air AEW events in some form or fashion. All of this would be assuming AEW remains with the GLN entity after the current deal is up.

The report confirmed that WBD owns a minority stake in AEW which will remain with GLN post-Netflix sale. The stake in AEW would have to be less than 10% or else WBD would need to publicly disclose that information. AEW head Tony Khan has been asked to confirm this before and while he has never done that, he has also never denied it.

The writer also provided another opinion that Netflix/HBO Max would probably not fight to keep AEW, perhaps due to an unconfirmed non-compete clause TKO incorporated into their Netflix deal — “a relic of the old days.”

Their research also noted that WWE programming airs on GLN owned networks in Italy and that according to projections, Netflix will hold UFC rights in Italy, San Marino, Spain, Andorra, the Netherlands and Vatican City in the next 12-to-18 months.


WOR: AEW and NXT, WBD and AEW, Netflix, tons more!

Wrestling Observer Radio with Bryan Alvarez and Dave Meltzer is back with tons to talk about including updates on WBD, Netflix, the WWE library, CM Punk, Andrade and his AEW career and how they’ll handle indie titles he holds, New Year’s Dash recap, AEW Dynamite and that NXT show, and plenty more. A fun show as always so check it out~!

Timestamps:
Start: Bryan’s internet went out, WBD/Paramount/Netflix update, Netflix ratings changes
13:19: CM Punk’s comments on people fantasy booking
17:56: Andrade El Idolo returns to AEW
23:05: Dave’s NJPW New Year Dash recap
35:19: CMLL, ratings, Cain Velasquez likely getting paroled
46:18: AEW Dynamite recap
1:06:49: WWE NXT recap

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Tony Khan: The future is bright for AEW ‘for years to come’

Despite the impending ownership change going on at Warner Bros. Discovery, Tony Khan believes AEW’s future is secured for years to come.

Khan spoke to TV Insider in advance of AEW Worlds End taking place this weekend. When asked about the uncertainty at WBD — which Netflix and Paramount both are looking to buy — Khan downplayed any effect it could have on AEW. Khan said AEW still has more than two years remaining on its TV deal, and the future of the promotion is bright.

“I think we have a lot of certainty and are very excited. 2025 is the most exciting year yet for AEW and our partnership with Warner Bros. Discovery was reimagined this year and will continue for years to come. We’re locked in with TNT, TBS, and HBO Max for over two more years. The future is bright for us for years to come,” Khan said.

“The person who is making the calls and always been a believer in AEW and continues to be is [President and CEO] David Zaslav. I just got a very nice holiday gift from him in fact that I will be utilizing in some fun ways in the weeks to come. The man who first asked me to launch AEW Collision and bring more wrestling back to TNT along with the great Dynamite on TBS, which is our flagship show. It’s the longest running primetime professional wrestling show in the history of TBS and TNT. Turner, in my opinion, has the richest collective history of professional wrestling with a tradition that goes back on TBS to 1971.  Then after 20 years of no wrestling on TBS we brought it back and had Dynamite become the longest running primetime wrestling show ever on TBS and TNT.”

Khan praised Zaslav as one of the best studio executives in the history of Hollywood. He believes that, no matter who wins the WBD sweepstakes, the new owners will want Zaslav running the ship.

“Mr. Zaslav had the idea to launch AEW on HBO Max to make the pay-per-views available to its massive audience and add new fans to AEW and HBO Max. Subscribers have the extra incentive with Dynamite and Collision and the library. That deal is continuing for years to come,” Khan said.

“I know the job Mr. Zaslav has done running Warner Bros. this year that people are going to want Mr. Zaslav as a studio boss in any regime. He has been one of the most successful studio heads in the history of Hollywood. The numbers don’t lie. David Zaslav is putting out hit after hit. I’m very proud he has made the big investment in AEW. There is a lot of excitement around the future of Warner Bros. It’s certainly one of the most exciting stories on Wall Street. There are a lot of exciting things happening around Warner Bros. that I’m proud AEW will be associated with Warner Bros.”

Netflix has reached a deal to acquire WBD, though whether that will ultimately go through still remains to be seen. Paramount has launched its own hostile takeover bid and is attempting to get WBD shareholders to take their offer instead of the Netflix deal.

WOR: AEW & NXT recaps, WBD & Paramount update, Tokyo Sports Awards

Wrestling Observer Radio with Bryan Alvarez and Dave Meltzer is back with tons to talk about including Mick Foley divesting himself from WWE, the WBD/Netflix/Paramount story, Tokyo Sports Awards, ratings, Arena Mexico and AAA this weekend, AEW and NXT TV reports plus spoilers for the next several shows. A packed show as always so check it out~!

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Paramount rebuffed in bid to acquire AEW media partner Warner Bros. Discovery

The Warner Bros. Discovery Board has declined to accepted a $108 billion all-encompassing bid from Paramount/Skydance and will be moving forward with Netflix’s initial offer for part of the company instead.

Announced via a press release Wednesday morning, WBD felt the deal offered by Paramount “is not in the best interests of WBD and its shareholders and does not meet the criteria of a “Superior Proposal” under the terms of WBD’s merger agreement with Netflix announced on December 5, 2025. The Warner Bros. Discovery Board unanimously reiterates its recommendation in support of the Netflix combination and recommends that WBD shareholders reject PSKY’s offer.”

Paramount stated later that they will go no higher than their offer.

In their lengthy letter to shareholders requesting they do not tender their shares to Paramount/Skydance and an SEC filing explaining why they were turning it down, WBD added “none of these reasons will be a surprise to PSKY given our clear, and oft-repeated, feedback on their six prior proposals. The terms of the Netflix merger are superior. The PSKY offer provides inadequate value and imposes numerous, significant risks and costs on WBD.”

Paramount was looking to acquire all of WBD which includes TBS, TNT and HBO Max where AEW currently airs. Netflix’s $82.7 billion offer is for the WB studio, DC, HBO Max, HBO, and the associated IP. The heavily scrutinized deal will come under review from regulatory entities and potentially wouldn’t be completed until after the WBD split in Q3 of 2026 that will see their cable networks and Discovery split into a separate company.

Netflix’s multi-year global partnership with WWE began in January 2025 while AEW’s current media rights deal with WBD that also began this year runs through 2027 with an option year for 2028.

WOL: WBD/Netflix/Paramount, must-see weekend matches

Wrestling Observer Live with Bryan Alvarez and Filthy Tom Lawlor is back with tons to talk about including the latest on WBD and Netflix and now also Paramount, how this will affect AEW imminently, tons of thoughts on all the big shows this weekend and what matches you should go out of your way to see, all the news and more! A fun show as always so check it out~!

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