Paramount Lands Knockout $7.7 Billion Deal for Exclusive UFC Rights, Shaking Up Sports Streaming
In its first major strategic move since merging with Skydance, Paramount Global has secured the exclusive U.S. rights to the UFC, signaling a seismic shift for both the media giant and MMA fans.
NEW YORK – Paramount Global, fresh off its blockbuster merger with Skydance, announced on Monday a landmark $7.7 billion, seven-year deal to become the exclusive U.S. home of the Ultimate Fighting Championship (UFC). The agreement marks a bold entry into the live sports arena for the newly combined company and will fundamentally change how fans watch one of the world’s most popular combat sports.
Starting next year, the streaming service Paramount+ will be the go-to destination for all U.S. UFC content, including the complete slate of 13 premier numbered events and 30 “Fight Nights.” In a major win for consumers, the deal eliminates the traditional pay-per-view (PPV) model for UFC’s biggest cards, which feature championship bouts and top-ranked fighters. These events will now be available to Paramount+ subscribers at no extra cost, with select cards also being simulcast on the CBS broadcast network.
“The addition of UFC’s year-round must-watch events to our platforms is a major win,” said David Ellison, the newly appointed CEO of Paramount and former head of Skydance. Ellison, known for producing Hollywood action hits, called the mixed martial arts franchise a “global sports powerhouse” and reaffirmed his commitment to investing in high-quality exclusive content, which he described as the “single biggest driver of subscriber growth.”
The move positions Paramount to compete fiercely in the escalating “streaming wars,” where live sports have become a critical asset for attracting and retaining audiences in an era of cord-cutting. The deal follows similar high-profile sports acquisitions by rivals, including Netflix’s $5 billion, 10-year deal for WWE Raw and Disney’s extension of rights for the NFL, NHL, and College Football Playoffs on ESPN.
According to TKO Group Holdings, the parent company of UFC, the agreement with Paramount came together quickly after the media company’s $8.4 billion merger with Skydance was finalized last week. “Once the merger closed, we were off to the races,” said TKO Chief Financial Officer Andrew Schleimer.
The deal, which averages $1.1 billion annually for TKO Group, was praised by UFC Chief Operating Officer Lawrence Epstein. He highlighted Paramount’s financial strength, the broad reach of the CBS network, and Ellison’s long-term vision as key factors in their decision. The UFC’s audience, which skews toward young men and reaches nearly 950 million households globally, made the rights highly competitive.
Industry analysts see the acquisition as a long-term strategic play rather than a short-term financial one. “They are not playing for near-term earnings outperformance,” noted analysts at LightShed Partners. “They are trying to create a long-term imprint on the future of the media industry to ‘win.’”
