WWE has reportedly shown interest in buying FITE TV and are set to meet with executives of the company very soon, according to Dave Meltzer of the Wrestling Observer Newsletter.
There is no doubt that WWE buying FITE TV would have some effect on other professional wrestling promotions, especially All Elite Wrestling (AEW) who recently started airing their pay-per-view events that platform for fans outside of the United States in Canada.
In addition, Starrcast events that stream live on the weekend of major AEW shows would also be impacted.
WWE has plans to introduce more indy content to the WWE Network and if they purchase FITE TV this could help them achieve that goal, but its highly unlikely they will allow AEW or Starrcast on their Network due to the direct threat of competition.
It's worth noting that WWE has meetings of this nature all the time and it's not a given they will end up buying FITE TV.