In the world of professional wrestling, there has been speculation about the possibility of a merger between All Elite Wrestling (AEW) and World Wrestling Entertainment (WWE), with AEW showing interest in merging with WWE, which has formally started a sale process according to sources familiar with the matter. However, it is important to clarify that as of the latest information available, WWE does not own AEW, and there are no official reports of any acquisition or merger between the two wrestling promotions.
Understanding AEW and WWE
AEW
All Elite Wrestling (AEW) is a professional wrestling league owned by the Khan family, known for also owning the NFL's Jacksonville Jaguars and the Premier League's Fulham F.C. AEW has emerged as the second largest wrestling promotion in the world behind WWE in terms of annual revenue since its inception in 2019. The company has a TV carriage rights agreement with Warner Bros. Discovery's TNT and TBS, and it has been expanding its programming, including weekly television shows like Dynamite and Rampage, as well as pay-per-view (PPV) and television specials.
WWE
On the other hand, World Wrestling Entertainment (WWE) is a well-established organization with a market capitalization of more than $6.6 billion on $1.28 billion of revenue in the last 12 months. WWE has been exploring a potential sale of the company before renewing its TV rights, which expire in 2024. The company has hired Raine Group as its lead financial advisor and Kirkland & Ellis as its legal advisor to facilitate this process.
The Merger Speculation
The speculation about a potential merger between AEW and WWE arises from the interest shown by AEW in merging with WWE, which has formally initiated a sale process. The Khans, who own AEW, have expressed interest in partnering with a strategic media company to share intellectual property while merging the wrestling leagues. However, it's important to note that the idea of Vince McMahon, the controlling shareholder of WWE, merging his company with the much smaller AEW is considered a long shot. AEW has not had talks with McMahon or Nick Khan, the company's chief executive, and it's unclear what type of job McMahon would want with WWE after a potential sale.
AEW's Independence and Partnerships
It is crucial to highlight that AEW has maintained its independence as a wrestling promotion and has even expanded its reach through partnerships with other wrestling promotions globally. For instance, AEW has partnership agreements with several promotions around the world, and Tony Khan, the president and chief executive officer of AEW, also owns Ring of Honor Wrestling (ROH). Wrestlers from AEW companies frequently appear on ROH, and vice versa, highlighting the collaborative approach AEW has adopted in the wrestling industry.
Legal and Copyright Aspects
When it comes to legal and copyright aspects, it's worth noting that AEW and WWE have different approaches. AEW has allowed wrestlers to generally work outside of the company, which impacts the ownership of the wrestlers' name/gimmick. The company also has a different stance when it comes to the use of promotional images of their stars, as evident from the professional images that are available on Wikipedia. On the other hand, WWE has a big team of lawyers constantly looking to enforce copyright, and the company owns name/likeness rights to their wrestlers, which influences its legal actions regarding copyright issues.
At the time of the latest information available, WWE does not own AEW. The speculation about a potential merger between the two wrestling promotions stems from AEW's interest in merging with WWE, which has formally started a sale process, but the likelihood of such a merger is uncertain. AEW has maintained its independence and has been actively expanding its reach through partnerships with other wrestling promotions globally. Both AEW and WWE have different business models, legal approaches, and priorities, making any potential merger or acquisition a complex matter that would require thorough consideration and negotiations from all parties involved.
Overall, the wrestling industry continues to witness developments and speculation, but as of now, AEW remains an independent and growing wrestling promotion, separate from WWE
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