All Elite Wrestling is suing Triller TV for breach of contract

The relationship between All Elite Wrestling and Triller TV came to an end last month when the streaming platform announced it would no longer offer AEW Plus content to its subscribers, which included the purchase of both AEW and Ring Of Honor PPVs.

A decision made at a very delicate financial moment for Triller, which now has to deal with a new problem. According to Brandon Thurston of POST Wrestling, AEW has filed a lawsuit against TrillerTV and its parent company, Triller Group, Inc.

According to the lawsuit, AEW alleges that the platform owes the company just under 5 million dollars in outstanding revenue from the sales of AEW pay-per-view events and revenue from the now-defunct AEW Plus subscription service.

The lawsuit also alleges that TrillerTV's parent company used the revenue derived from AEW to fund other businesses - including a social media platform that never took off - instead of paying AEW what was owed. The lawsuit was filed on April 29 in the Duval County Court in Florida, and claims breach of contract, unjust enrichment, and unlawful interference, among other charges.

AEW's lawsuit against TrillerTV revealed that it was entitled to 75% of the net revenue from domestic pay-per-view sales and 65% of the net revenue from international sales. In the case of AEW Plus, AEW received 60% of the net revenue, while Triller kept the remaining 40%.

AEW's external attorney states that TrillerTV owed 4,988,989.13 dollars in payments and that amount continues to accrue interest at a rate of 2% per month, in accordance with a contract that has also been submitted in the case.

Formerly known as FITE, TrillerTV is facing serious financial problems. The magnitude of the problem was such that the company was delisted from the NASDAQ (one of the three most followed stock indices in the United States) last January.

Flipps Media Inc., the corporate entity underlying TrillerTV, previously filed a lawsuit against Triller Group, Inc. alleging that TrillerTV had been abandoned by the group. Flipps Media Inc. stated in the Delaware Chancery Court that the company is insolvent, meaning it cannot pay its debts.

Recognizing the issue, All Elite Wrestling announced the creation of MyAEW, a new platform that replaced AEW Plus last March. It is currently available internationally to all company fans. The platform offers various subscription levels and broadcasts all the company's shows, including ROH.