Report: AEW "Cautiously Very Positive" About WarnerMedia-Discovery Merger
WarnerMedia is looking to become a bigger player in the streaming market
AT&T announced on Monday that WarnerMedia and Discovery will merge to become a new company. The deal will net AT&T $43 billion in cash, debt securities and debt retention and the new organisation will be led by Discovery CEO David Zaslav.
The merger is designed to establish the new company as a "global leader in entertainment" and "a stronger competitor in global streaming" at a time when Netflix and Disney have established themselves as the industry leaders.
TNT comes under the WarnerMedia umbrella and All Elite Wrestling are "cautiously very positive" about the merger, according to Wrestling Observer's Dave Meltzer.
Meltzer said: "With talking to some people there, everyone's pretty much cautiously very positive. Which sounds like a contradiction, but you don't know. But if they're gonna do this giant streaming deal, AEW wrestling looks like it's probably gonna be a very valuable streaming property in a couple of years. So it seems like it's going to be a good thing but this thing is not really going into effect for a couple of years anyway."
If the deal will have any ramifications for AEW ultimately won't be known for a while as the merger won't close until 2022.