UPDATED: AEW-WBD deal is official, loads more details!

AEW's deal with WBD is official. Dynamite and Collision will continue on TBS and TNT, and will stream live on MAX starting in January 2025. AEW PPVs will be on MAX at a discounted rate later in 2025. More details coming to Fightful Select in this article as we gain more info.

In the hours following the official announcement of the WBD and AEW deal, Fightful Select's Sean Ross Sapp learned a lot more details.

As of now, Dynamite and Collision will remain on Wednesday and Saturday respectively, and AEW Rampage will no longer air on WBD. Rampage was a show that WBD had requested in 2021, but upon the new deal, both sides prioritized Dynamite and Collision. WBD noted that Rampage could end up elsewhere, but we've yet to hear any plans regarding that brand.

As it pertains to the AEW library, right now the plan is to have Dynamite, Collision and Rampage's full library included on Max. If Rampage does go elsewhere, the library moving forward will not be on WBD.

Regarding financial reports of the deal, we're told neither AEW or WBD disclosed those details. Variety said it would be near $150 million per year. Sports Business Journal heard $170 million. Fightful Select reported earlier this year that "at least double" what they had been making was offered, which would have been at least $140-150 million. However, those that we spoke to said that when Puck had originally reported the $170 million a year number, that would end up being "low" compared to what AEW would end up getting. AEW will also get PPV revenue as a result of the PPV events airing at a discounted rate on MAX.

Of all the details of the deal internally, PPVs being paywalled, and then still costing money was the only one met with negativity. When we asked those in AEW, they pointed at the UFC point of view of if you cannibalize your PPV model, you can't go back. A good example of this is WWE moving to the Network format and now being unable to capitalize on big PPV sales now that they're hot, although one WBD source said that the ease of access of WWE's PLE events could be a big reason they're so successful now. We're told that this model could end up changing for AEW/WBD down the road.

Sports Business Journal had also reported that WBD had an equity stake in AEW that they retained. Thus far, neither AEW nor WBD have confirmed this. Beyond that, PR contacts at both companies even noted they'd never heard of that aspect of WBD having equity in AEW.

TruTV and Ring of Honor were never mentioned to us or in the press materials. AEW did regain some additional elements in the deal. Since the announcement of Collision in 2023, WBD maintained exclusivity, which is why AEW Dark went away. However, under this new deal, AEW regains those rights. There have been mentions internally about possibly using Dark in the future, though nothing is confirmed.

Credit to Andrew Zarian, who has been on top of this story for well over a year.