AEW might have a television deal and Tony Khan might be thrilled with Skydance taking over, but that doesn’t mean the wrestling company is safe. With Paramount and Skydance preparing to slash billions in expenses, AEW’s future is anything but guaranteed, and the people claiming otherwise may be getting ahead of themselves.
During the November 9, 2026 edition of Wrestling Observer Radio, Dave Meltzer addressed the Paramount+ and HBO Max merger and made it clear that nobody actually knows what Skydance plans to do with AEW long-term. While Tony Khan has been publicly celebrating the new ownership, Meltzer pointed out that the promotion isn’t even under the company’s sports division, meaning decisions about its future will come from entertainment executives. Meltzer explained that AEW is being handled differently from the traditional sports properties involved in the merger.
“I mean, the thing is, is when they talk sports, you have to remember that AW is under the entertainment umbrella. It’s, it’s everything about, you know, like whatever decisions are made are being made by the entertainment people, not the sports people.”
That distinction matters because plenty of people have already been declaring AEW safe under the new ownership. Meltzer wasn’t having any of that, pointing out that some of the same people making those claims didn’t even know which division would be responsible for the promotion.
“That’s not to say that it’s safe or, or, or anything. Nobody knows, I mean, I know that people keep claiming that they know and. No, you know, they, we, you know, the people who were claiming it didn’t even know who was even going to be in charge because they all thought it was going to be under sports and it’s not. So nobody knows anything. Whatever happens, happens. There are no guarantees.”
That’s a far cry from the picture Tony Khan has been painting. Following Skydance’s takeover of Warner Bros. Discovery, Khan publicly praised the company’s new ownership and sounded convinced that AEW was heading toward a bright future.
“It’s great being here in Paris today, my first day working for Skydance, and it’s great. I love working for Skydance, and we’re going to have a great future here.”
Meltzer acknowledged Khan’s confidence but pointed out that the financial situation isn’t nearly as cheerful. Skydance is targeting approximately $6 billion in cost reductions, and that means executives will be taking a hard look at where the company’s money is going.
“You know, Tony thinks it’s great and, and everything and, and hopefully for him, he’s correct. But like I said, like, there’s, there’s going to be lots and lots of cost savings.”
And here’s where AEW could have a real problem. Meltzer explained that entertainment programming doesn’t necessarily have to be losing money to get cut. If executives decide a particular show isn’t essential to their plans, they can get rid of it even if it’s performing reasonably well. He specifically brought up AEW while explaining why the promotion shouldn’t be considered untouchable.
“If a show is not carrying its weight or even if it is, but it’s not necessary, they could get rid of it. Like I said, I mean. Aw. You know, I mean, they’re not the NFL. They’re not the NBA. They’re not, you know, I mean, it’s absolutely possible.”
In other words, Tony Khan being happy with Skydance doesn’t guarantee that Skydance will be happy paying for AEW forever. The promotion has a loyal audience and an established television presence, but it’s still competing for corporate dollars at a time when the new owners are looking to spend less, not more. Meltzer wasn’t suggesting that AEW has already been marked for cancellation, either. He acknowledged that the promotion has its advantages and that Skydance could ultimately decide there’s plenty of value in keeping it around.
“At the same time, you know, there’s positives of AEW too, that they may want to be in business with. So time will tell.”
AEW’s current media agreement remains in place through at least 2027, with options extending into 2028. Dynamite and Collision continue airing on TBS and TNT, while HBO Max remains a major streaming outlet for the promotion. There has been no announcement that Skydance intends to cancel AEW programming or terminate its existing arrangement.
However, the landscape is changing. Paramount+ and HBO Max are expected to offer a combined subscription package in early 2027 before eventually becoming one unified streaming service. Meanwhile, the corporate restructuring and planned cost reductions raise questions about which entertainment properties will remain priorities.
For now, Tony Khan has every reason to want AEW fans feeling good about the future, but his optimism isn’t a guarantee from the people signing the checks. Meltzer’s point is simple: nobody knows what Skydance will do when the time comes to make those decisions. AEW could come out of this perfectly fine, or it could find itself facing some very uncomfortable questions when the next television deal comes around.
Do you think AEW is genuinely safe under Paramount-Skydance, or is Tony Khan putting too much confidence in a company preparing to make billions in cuts? Let us know what you think in the comments below.
This transcript was produced exclusively for Ringside News from the original recording. Republishing the transcription in full is prohibited. When using excerpts, provide prominent credit and a link to this article.
