HBO Max is getting folded into a combined streaming service with Paramount+, and that means some major changes are coming for AEW. Skydance has confirmed plans to bring the two platforms together following its Warner Bros. Discovery takeover, although Tony Khan insists his wrestling company is in good hands.
On November 9, 2026, Skydance announced that Paramount+ and HBO Max will begin offering a combined subscription package in early 2027. That’s only the beginning, though. The company plans to eventually bring both platforms together into one unified streaming service, ending their current setup as two separate operations. In a letter to shareholders, Skydance laid out its plans for the first stage of the transition.
“Starting in early 2027, consumers will be able to subscribe to both world-class streaming services at an even greater value. We look forward to sharing more details on the bundle and our streaming roadmap in the coming months.”
Skydance CEO David Ellison also confirmed that the bundle is just the first step toward a fully combined service. The company wants to bring the technology behind both platforms together within roughly a year of completing the Warner Bros. Discovery acquisition. That means HBO Max’s days as a separate streaming operation are numbered, although Skydance hasn’t announced when the full merger will happen or whether the HBO Max name will survive.
And that’s where things get interesting for AEW. Tony Khan’s company currently airs Dynamite and Collision on TBS and TNT, with both shows also streaming on HBO Max. AEW pay-per-view events are also available through the platform, making it a major part of the promotion’s media deal.
Now that HBO Max is being combined with Paramount+, AEW’s streaming home is getting a major overhaul. The new company also has UFC under its umbrella through Paramount’s existing deal, meaning both wrestling and MMA programming could eventually find themselves on the same platform. However, just because AEW is part of the current Warner Bros. Discovery arrangement doesn’t automatically mean everything will stay the same forever.
Skydance is also looking to cut approximately $6 billion in costs following the merger, with CBS Sports and TNT Sports being brought together under one operation. That has already raised questions about which sports properties the company plans to keep investing in.
As Ringside News previously covered, the merger has created plenty of questions about AEW’s long-term television and streaming future. But Tony Khan doesn’t seem worried. Following the completion of the Warner Bros. Discovery acquisition in October, Khan made it clear that he was happy with Skydance taking over.
“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.”
Khan has also spoken positively about his conversations with David Ellison, expressing confidence that Skydance’s ownership could create more opportunities for AEW.
Still, there’s a difference between Khan being happy with the new owners and knowing exactly what happens when AEW’s next television and streaming deal comes up for renewal.
For now, AEW’s existing agreement remains in place, and Skydance hasn’t announced any plans to remove its programming. The promotion’s current media deal runs through at least 2027, with additional options extending into 2028.
Meanwhile, Skydance has not announced the price of its combined Paramount+ and HBO Max bundle, the launch date for its eventual unified service, or what that platform will ultimately be called.
One thing is settled: HBO Max and Paramount+ are being brought together, and the days of operating as completely separate streaming businesses are coming to an end. What isn’t settled is where AEW fits into Skydance’s plans once the company starts making decisions about future programming and media rights.
Tony Khan says everything is great with Skydance, and maybe it is. But with billions in cuts on the table and a complete streaming overhaul coming, AEW will eventually need more than a good relationship with the new bosses. It’ll need to prove that keeping the promotion is worth the money.
What do you think about HBO Max being merged with Paramount+, and do you believe Tony Khan has anything to worry about when AEW’s next media rights deal comes up? Let us know your thoughts in the comments below.
