A CNN story covering the recent anti-ICE chants on AEW programming included a disclosure about WBD’s minority interest in the promotion.
Saturday’s article by Michael Ballaban covers the political elements within professional wrestling, contrasting WWE with its ties to the Trump administration through Paul Levesque and Linda McMahon’s role in the Department of Education, to AEW performers Brody King and Hangman Page, and their actions.
The piece contains a disclosure, which appears to confirm what was assumed, that WBD has a minority stake in All Elite Wrestling:
The embrace of contemporary issues is part of a larger, politically shaded rivalry playing out in the industry, between the 7-year-old AEW and the industry’s ruling juggernaut for generations, WWE (Warner Bros. Discovery, CNN’s parent corporation, owns a minority stake in AEW).
Tony Khan has been asked this question in the past and has never denied WBD having an interest, but rather, has addressed the topic by saying he controls all the voting shares.
From Wrestlenomics:
Tony Khan: And as for them [WBD] and their stake in the business [AEW], I mean, that is something that would be between us. But I would also be open to that, to Warner Brothers in a future deal, having a piece or a bigger piece, potentially. But I would always want to maintain 100% voting control, as I have now, and want to maintain, you know, the supermajority of stock which I have now. So I think these are things that are really important to me. But in a future deal, I mean, these are things that, you know, I would be open to. It’s not– There’s nothing bad about it. I mean, we’ve seen in pro wrestling this year, a change of control [at WWE]. I have no interest in a change of control [at AEW]. Would I be interested in taking on additional investment? Yeah, potentially. But it would have to be at the right numbers, and it would have to make sense for us based on how much our business has grown this year. But as for a change of control or giving up any of the voting stock, I have no interest in that.
WBD & AEW have never disclosed an ownership connection through their filings and/or lawsuits, although they would not have to if that stake is below ten percent.
After the company’s launch in 2019, it proceeded to announce a deal to broadcast its weekly Dynamite program on TNT in the U.S. In January 2020, TNT replaced its existing agreement with AEW and drew up a new contract worth approximately $44 million (AAV) through 2023.
In October 2024, WBD and AEW agreed to another extension with the addition of Dynamite & Collision being simulcast on HBO Max. The current deal runs until the end of 2027 with an option for an additional year.
