Paramount has finalized a $7.7 billion agreement for exclusive U.S. rights to Ultimate Fighting Championship events, the company announced Monday. The deal, which spans seven years beginning in 2026, is the first major acquisition following Paramount’s merger with Skydance Media last week.
The agreement covers all 13 of UFC’s marquee events and 30 “Fight Nights” annually. Events will stream on Paramount+ and select broadcasts will air on CBS. Payments are structured to start below the $1.1 billion annual average and rise in later years.
Under the new arrangement, subscribers will not pay extra to watch UFC events, ending the pay-per-view approach used under Disney’s ESPN+ deal, which expires in late 2025. ESPN had been paying about $500 million annually for UFC rights.
“The pay-per-view model is a thing of the past,” said Mark Shapiro, president and chief operating officer of TKO Group, which owns UFC. “So, it was paramount to us – forgive the pun – where it’s one-stop shopping, especially for our younger fans.”
Paramount CEO David Ellison said securing the complete UFC package was strategic given the limited availability of major sports rights in the coming years. “UFC is a unicorn asset that comes up about once a decade,” Ellison said. TKO, which also owns WWE, recently reached a $1.6 billion agreement with ESPN for WWE premium live events. UFC stages 43 live events annually, totaling around 350 hours of live programming. Paramount is also exploring opportunities to acquire UFC’s international rights as they become available.
