AEW’s Next Move Revealed Amid Warner Bros. Discovery and Paramount Skydance Merger

The situation surrounding AEW’s media future just took another turn — and this time the focus is on a new update that paints a very different picture of what actually happened behind the scenes.

After Nick LoPiccolo stirred up conversation with claims that Warner Bros. Discovery had already decided not to renew AEW months ago, NFL insider John McMullen stepped in on May 3, 2026 with a much more detailed breakdown of the timeline.

According to McMullen, AEW leadership wasn’t blindsided — they were given an early heads-up during the summer of 2025 that major changes were coming due to corporate restructuring involving Warner Bros. Discovery.

"Warner Bros. Discovery informed Tony Khan and AEW in the summer of 2025 that the plan was for WBD to be sold and that the option year in AEW’s current television deal was no longer a consideration, according to multiple industry sources."

He went further, explaining that this wasn’t just internal chatter — the message came directly from the top. WBD CEO David Zaslav personally spoke to Tony Khan about the situation and what it meant going forward.

"WBD CEO David Zaslav personally informed Khan that a sale was imminent and that the company would not be in a position to pick up the option or negotiate an extension."

McMullen also addressed how the story got twisted early on, pointing out that the initial framing led to confusion, especially once LoPiccolo’s comments started circulating. That misunderstanding fueled the idea that AEW was taking a major hit — something McMullen pushed back on hard.

"As often happens in pro wrestling, the news was initially misunderstood — in part because the first prominent report came from high-powered industry agent Nick LoPiccolo, a vocal critic of Khan."

"In wrestling’s highly tribal fan environment, the development was widely interpreted as a major blow to AEW."

"In reality, it was not inherently negative. It served primarily as an early courtesy heads-up from a business partner, giving AEW time to prepare contingency plans ahead of decisions that will be made by new ownership."

Instead of being a rejection, McMullen framed it as basic business logic tied to a company preparing for a sale. That explanation ties directly into the massive merger now in motion, which will ultimately determine AEW’s next move.

"In other words, Zaslav and WBD won't be making decisions on AEW programming in the future, which is nothing more than common sense."

"On February 27, 2026, Paramount Skydance and WBD entered into a definitive merger agreement under which Paramount will acquire WBD in an all-cash deal at per share, valuing the transaction at approximately 0.9 billion."

"WBD shareholders overwhelmingly approved the deal on April 23, 2026. It is expected to close in the third quarter of 2026, pending regulatory approval."

With that timeline in place, AEW now has a clear window to figure out its next deal — but it’s not without complications. McMullen even laid out a worst-case scenario, making it clear that nothing is guaranteed once new ownership takes over.

"AEW will have roughly 12–16 months to secure a new television deal with either Paramount Skydance or elsewhere."

"Paramount, though, already has significant business ties to WWE’s parent company, TKO Group Holdings, through the UFC and a major billion-dollar television rights agreement, which could complicate renewal talks."

"In theory, the worst-case scenario is that the new owners could also choose to buy out the remainder of AEW’s current deal and remove the programming from their platforms entirely."

Behind the scenes, AEW isn’t sitting still. McMullen noted that Tony Khan has already been discussing fallback options, including a temporary move to YouTube if needed. There’s also belief that a deal with Google could still be in play, depending on how things shake out.

"Sources close to Khan say he has told associates that AEW is prepared to move to YouTube, presumably as a temporary placeholder while seeking a new partner."

"However, one source indicated Khan believes he could potentially strike a comparable deal to his current one with Google/YouTube TV, which has invested heavily in the NFL but has been relatively quiet on broader sports and sports-entertainment content."

At the same time, AEW has already started building its own safety net with an in-house platform. Publicly, everything has looked stable — but McMullen made it clear that internally, the company is preparing for change.

"The company also rushed the launch of the MyAEW App on March 9 as an in-house streaming option and additional distribution safeguard under the guise of international issues in the wake of Triller's significant financial issues."

"Publicly, Khan has continued to project stability and business as usual to maintain internal morale and reassure AEW’s loyal fan base, often speaking of a strong relationship with Paramount chief David Ellison."

"Behind the scenes, however, the company is operating as if it will need a new linear or streaming television deal."

To put things into perspective, McMullen pointed out that even WWE has had to rely on stopgap solutions when deals shift.

"To provide further context, even WWE — whose combined TV and streaming deals exceed billion annually — recently lost premium live event coverage for its developmental brand NXT and used YouTube as a short-term placeholder before finalizing an expanded deal with The CW this week that includes linear television broadcasts and a streaming component on ESPN Unlimited."

That lines up with some of the concerns raised earlier — but McMullen’s update suggests the situation is far more strategic than chaotic. Instead of scrambling, AEW may have been quietly preparing for this moment for months. The big question now is what happens next once the merger is finalized and new ownership takes control of the decision-making process.

UPDATE: Shortly after this article was published, the original report was removed from Twitter. Ringside News will continue to monitor the situation and keep our readers informed.

Do you think AEW is in a strong position heading into these negotiations, or could this situation still turn into a major problem down the line? Let us know your thoughts in the comments.