Tony Khan says AEW media rights are still in the “red zone” and both AEW and WBD are motivated and excited to close a deal on TV rights extension

In today’s Q&A with media to promote AEW’s All Out PPV event this weekend, AEW’s Tony Khan said AEW and Warner Bros. Discovery share a desire to extend their TV rights deal, characterizing “excitement on both sides.” He said the new deal is still in the “red zone” (a football reference to being within a few yards of scoring) “and right there to be pushed in.”

AEW launched five years ago, and an essential part of that successful launch was a short-term TV deal with TNT to air Dynamite, giving AEW a top tier basic cable home with a history of airing pro wrestling dating back to WCW Nitro. The success of Dynamite out of the gate led to a quick extension, but the current deal expires next year. There has been talk of a new deal being imminent over the last year or so.

The cable landscape is changing, with severe drops in basic cable subscribers, especially among younger viewers. It’s one of the reasons WWE is moving Raw from basic cable to Netflix at the start of 2025, with Netflix matching the current number of homes with basic cable, but hitting different demographics, plus a massive international audience.

Dynamite viewership the last ten weeks has averaged 29 percent fewer viewers than two years ago in the same ten-week period during a time when WWE is largely holding closer to steady in similar comparisons.

Khan also said being part of the Max streaming service is part of conversations, perhaps meaning some or all PPVs would move there, similar to what WWE did with their PPVs moving to WWE Network and eventually Peacock. It could also be a mix of traditional PPVs and other live specials or even a weekly series such as Raw on Netflix.

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