>>16314443They aren't actually paying 150 million.
The deal is "valued at" 150 million. There is a reason Tony and WBD both haven't revealed the actual details of the deal. Because it isn't a cash deal. The majority of the deal is in assets and non monetary items. Things like streaming rights, stakes, shares, and ect.
WBD (other than the Penguin) has had massive flops and losses. So much so that the market was speculating on potential bankruptcies, liquidations, and mergers. Penguin's success bought them a small a amount of wiggle room.
If AEW was actually getting 150 million straight up then Tony would never ever have allowed that exclusivity window to close. But he did let it close and shopped around but ultimately had to accept the WBD offer. And too save face for him, instead of announcing the actual cash amount of the deal he and WBD both benefit from saying it was "valued at" X amount of money. It lets Tony pretend AEW is valuable and it lets WBD pretend they aren't in serious financial trouble.
Only the cultists and financially illiterate believe the 150 million number.
"Valued at" is always a give away that the number is fudged.
