Report: Warner Bros. Discovery Owns Minority Stake In AEW

Following years of rumours, there has been further confirmation that Warner Bros. Discovery holds a minority stake in All Elite Wrestling.

Rumours have swirled since 2022 that WBD owns a portion of AEW, with a report in 2024 further noting that WBD owned some sort of stake in All Elite Wrestling. In a new report from the Hollywood Reporter, it has been claimed that Warner Bros. Discovery's stake in AEW is less than 10 per cent, which means they don't legally have to comment on it.

Following the completion of Netflix's acquisition of Warner Bros. Studios and HBO Max, the AEW ownership stake would be a part of the Global Linear Networks portion of WBD that isn't being purchased by Netflix, a source told the Hollywood Reporter. Tony Khan, of course, will remain the majority owner of All Elite Wrestling.

When exactly WBD acquired an ownership stake in AEW is unknown, but Dave Meltzer of the Wrestling Observer noted in October of 2024 that Warner Bros. Discovery has likely had an equity stake in the pro wrestling promotion since 2019 when AEW was founded.

WBD has been AEW's US TV partner since 2019, and their partnership was extended after a new US media rights deal came into effect from January 2025 worth $555 million through to the end of 2027. The deal also had an option year that would be a substantial monetary increase for AEW.