AEW’s Streaming Future Still Tied to HBO Max But Netflix Deal Could Change Everything

The latest Netflix and Warner Bros. Discovery merger update just dropped—and while AEW wasn’t mentioned by name, the writing between the lines is telling.

On January 21, 2026, Netflix and WBD filed a massive 519-page proxy statement related to their upcoming merger. While All Elite Wrestling didn’t appear once in the document, its absence says plenty.

According to The Hollywood Reporter, page 53 of the filing sheds some light on AEW’s future within the WBD ecosystem:

“Though neither the phrase ‘All Elite Wrestling’ nor the acronym AEW appeared once in the proxy, page 53 foretold the future for the WWE competitor.”

AEW’s programming—including Dynamite on TBS and Collision on TNT—is expected to remain with Discovery, the cable/sports half of the company that will eventually split from Warner Bros. post-merger.

“Following the close of the Netflix/WB deal, All Elite Wrestling rights will ostensibly remain with Discovery (aka the ‘Global Linear Networks’ company), though the league’s weekly series and premium live events (PLEs) are expected to continue streaming on HBO Max throughout the remainder of AEW’s current contract.”

That means, at least for now, AEW Dynamite and AEW Collision will stay where they are—airing on TBS and TNT, and streaming on HBO Max—until their media rights deal expires in either 2027 or 2028, depending on the fourth-year option.

This confirmation gives AEW some breathing room. As of today, there’s no sign that AEW will be joining the Netflix roster—and the division of assets between Warner Bros. (entertainment) and Discovery (sports/cable) suggests they won’t be anytime soon.

AEW signed its latest media rights deal with WBD at the end of 2024, which kicked off in 2025. Netflix and WBD have yet to finalize the merger, but they’re pushing for approval in the next 12–18 months.

Do you think AEW should stick with Discovery and HBO Max—or start planning its own future outside the WBD world before the deal expires? Drop your thoughts in the comments and let us know where you’d want AEW to land.