From a wrestling fan's perspective.
Warner Bros. Discovery announced this past spring plans to split their business into two companies,[1] and out of the blue, they revealed yesterday they're open to selling all or parts of their business.
"The entertainment and media giant said it had initiated a review of 'strategic alternatives' in light of 'unsolicited interest' it had received from multiple parties, for both the entire company and Warner Bros. specifically," The Associated Press reported. "Warner Bros. Discovery did not specify where that interest was coming from."[2]
The first company that came to my mind is Netflix because they reportedly signed a 10-year agreement to stream WWE Raw in the United States; meanwhile, Warner Bros. Discovery reportedly signed a deal to air AEW programs through at least 2027.
This means if Netflix acquires Warner Bros. Discovery, they would hold the rights to stream both WWE Raw and AEW content on the same platform!
Fans have been suggesting a collaboration for years, but would both companies agree to being on the same platform, let alone a collaboration?
While it would be incredible to watch another storyline similar to the WCW vs WWE invasion, there are multiple contracts that could prevent this from happening.
A major obstacle would be WWE's contracts with Netflix's competitors. Peacock currently holds the rights to stream Smackdown, and ESPN+ holds the rights to stream Premium Live Events.
These contracts would limit WWE's collaboration to Raw, which would be bad for their business, because these storylines wouldn't carry over to Smackdown and their Premium Live Events. For this reason alone, I doubt either would be willing to agree to a collaboration even if they know it would revive the stale wrestling industry.
Sources:
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Michelle Chapman. "Warner Bros. Discovery to split into two companies, dividing cable and streaming services." June 9, 2025. Retrieved October 22, 2025.
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Wyatte Grantham-Philips. "Warner Bros. Discovery confirms it has received buyout interest and is considering its options." apnews.com. October 21, 2025. Retrieved October 22, 2025.