After months and months of anticipation, it finally happened: Tony Khan and AEW have officially announced a new media rights deal between the promotion and their long-term home, Warner Brothers Discovery.

While the terms of the deal haven't been officially announced in AEW's initial press release, the number is reportedly “valued at upwards of $150 million per year,” according to Variety, and could produce borderline unprecedented opportunities for the promotion, which initially signed a deal worth about that much over four years, instead of just one.

Discussing the deal in the official press release, Khan celebrated the collaborative process, letting fans know that AEW isn't leaving WBD anytime soon.

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“We are honored to announce the extension of our incredible partnership with Warner Bros. Discovery,” said AEW CEO, GM, and Head of Creative Tony Khan. “This extension continues the tradition of iconic wrestling events broadcast on TBS and TNT, while also establishing a new legacy for AEW through weekly live streams on Max for years to come. We thank David Zaslav, Kathleen Finch, and everyone at WBD for their tireless support of All Elite Wrestling since its inception, as well as the AEW fans, talent, and staff that helped make this possible.”

Warner Brothers Discovery commented on the partnership, too, detailing why keeping AEW on TBS and TNT made all the sense in the world for the company's portfolio.

“Tony Khan and the entire AEW team have been incredible partners, and we are thrilled to strike this expanded agreement to deliver amazing new AEW content and stories to TNT and TBS, as well as bring the thrilling live action to Max for the first time,” said Kathleen Finch, Chairman and CEO of US Networks, WBD. “We are focused on creating fresh and authentic experiences for AEW's passionate and engaged fanbase while also introducing them to our growing lineup of high-action sports and entertainment at TNT and beyond.”

What does this mean for the future of AEW? Well, for one thing, the other shoe hasn't technically dropped yet, and they still have a supplemental deal with Fox that will reportedly bring a new show, AEW Shockwave, to one of the company's portfolios of brands either later this year or early next year when Rampage comes to a conclusion. Still, with the promotion now turn-key profitable the day the new money hits, it's clear the future could be incredibly bright for all things All Elite, as they will soon officially be the second most profitable wrestling promotion of all time.