AEW does not appear to be an expected target of potential Skydance cuts at this stage, despite fresh concern among fans following the corporate changes involving Paramount Skydance and Warner Bros. Discovery.
The formation of the broader Skydance structure has naturally raised questions about the programming commitments inherited from the Warner Bros. Discovery era. AEW is one of the more visible properties connected to that previous arrangement, with AEW Dynamite and AEW Collision continuing to air on TBS and TNT while also being simulcast on HBO Max. But the early indication is that AEW is not being assessed in the same category as conventional live sports properties.
Discussing the situation on Wrestling Observer Radio, Dave Meltzer said he had been told that AEW is classified internally as entertainment. That distinction could prove meaningful as Skydance evaluates its sports portfolio and possible areas for financial reductions.
“I think I even asked and was told that they are considered entertainment,” Meltzer said. “But they were listed as sports in this article, and they were talking about how cuts are going to have to be made. They did not...put it this way, they had talked to people who were inside over where they expected cuts, and AEW was not on that list on where they expected cuts.”
For more background on this topic, read Orange Cassidy Says Tony Khan’s Fan-First Approach Has Expanded What AEW Can Be.
That is not the same thing as a permanent guarantee for AEW, nor does it answer every question surrounding the promotion’s next media-rights negotiation. It does, however, offer a measure of clarity on the immediate concern: AEW is not currently believed to be among the properties expected to be removed as part of sports-related cost-cutting discussions.
Why the entertainment classification matters
Professional wrestling has long occupied an unusual position in television and media-business conversations. It is presented as an athletic competition, relies on live-event audiences, generates discussion around wins and losses, and can draw viewers who also follow traditional sports. At the same time, it is a scripted form of episodic entertainment built around characters, ongoing storylines, promos, rivalries, and major event finales.
For AEW, being treated as entertainment rather than as part of a sports division may separate it from a specific set of budgeting decisions. Sports programming can involve expensive rights packages, significant production obligations, event-specific negotiations, and competition for limited resources among leagues. A wrestling television deal has its own substantial value and costs, but it does not necessarily sit within the same internal category as rights agreements for a major traditional sports league.
That distinction is particularly relevant while Skydance examines the assets and obligations attached to its new corporate landscape. When fans see reports of potential reductions involving sports, it is understandable that they would wonder whether AEW could be included. Meltzer’s comments suggest the promotion is not presently viewed through that lens.
It is also worth emphasizing what has not been established. There has been no confirmation that Skydance has made a final, long-term decision regarding AEW beyond the existing agreement. There has been no public indication that the company has committed to exercising its future option. And there has been no announcement of a new extension that would carry AEW programming beyond the current deal’s potential endpoint.
AEW remains in the second year of its current deal
AEW’s present media-rights agreement was reached in October 2024. The deal kept Dynamite on TBS and Collision on TNT, preserving the company’s familiar cable homes while expanding its streaming reach through HBO Max.
Under the arrangement, the weekly shows are simulcast on HBO Max, and AEW’s video library was added to the platform. That streaming component was a major development for the promotion, giving fans another way to follow current programming while also creating an organized destination for older AEW material.
The agreement is a three-year deal, and AEW is now in its second year. It is expected to expire in late 2027. Skydance holds an option that could extend the arrangement by an additional year through 2028.
As of now, it is unknown whether Skydance intends to pick up that option. It is likewise unknown whether there is interest in negotiating a longer extension beyond the current contract framework. Those are separate questions from whether AEW is safe from an immediate round of sports-related cuts, and they will likely remain the larger business questions for the company as the end of the deal approaches.
The current outlook can therefore be described as stable in the short term, but open-ended in the longer term. AEW has an active agreement, established television outlets, a streaming presence, and no present expectation that it will be part of the cuts being discussed. Yet media-rights relationships can shift quickly, especially when ownership structures change and companies reassess programming priorities.
Tony Khan has expressed optimism
AEW owner Tony Khan has remained optimistic about the company’s relationship with Skydance. That optimism has continued following a recent meeting with Skydance executives.
While no specific future agreement has been announced from that meeting, Khan’s public confidence is notable given the uncertainty created by the corporate transition. AEW’s leadership is clearly seeking to maintain continuity for its weekly television programming and its HBO Max presence while the new corporate structure takes shape.
For AEW, continuity matters on several levels. The company’s weekly schedule is built around the reach provided by Dynamite and Collision, while the streaming arrangement offers an increasingly important access point for viewers. The addition of the video library also gives the promotion a deeper footprint on HBO Max than simply placing new episodes on the service each week.
Those elements do not automatically determine what happens after 2027, but they are important parts of the existing relationship. A live weekly product, a companion streaming home, and an available archive all contribute to the broader value of a wrestling rights package. Whether that value leads Skydance to exercise the 2028 option, negotiate a fresh deal, or take another direction is a decision for a later stage.
No immediate indication of an AEW removal
The key takeaway from Meltzer’s comments is limited but significant: AEW is not currently expected to be among the properties affected by anticipated sports cuts. Its apparent internal classification as entertainment is central to that expectation.
That should temper the more immediate fears surrounding the Skydance transition. AEW fans do not have a present indication that Dynamite, Collision, or the company’s HBO Max availability are about to disappear because of the sports-related reductions under discussion.
At the same time, caution remains appropriate. Media companies routinely revisit strategy, spending, distribution models, and programming investments. AEW’s deal still has time remaining, and the option for 2028 creates another point at which Skydance can evaluate the relationship. A decision on that option, or any discussion of a broader extension, has not been publicly resolved.
For now, AEW’s television and streaming partnership remains in place. The promotion appears insulated from the particular cuts being discussed because it is regarded as entertainment rather than a sports property. The longer-term picture will depend on decisions yet to be made, but there is no current indication that AEW is on the expected list of Skydance reductions.
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Darryl Polo
Darryl Polo is a passionate wrestling fan covering WWE, AEW, TNA and beyond. He loves great rivalries, breakout stars and the moments that keep fans talking long after the bell. How we work.