Newly-formed media giant Paramount Skydance has agreed to pay USD7.7 billion to TKO Group Holdings for exclusive U.S. broadcast rights to Ultimate Fighting Championship (UFC) events over the next seven years, starting in 2026.
The agreement sent TKO shares soaring, closing Monday with a 10.2 percent gain at USD180 on the S&P 500. TKO Group, a major player in combat sports media, was created through a merger between World Wrestling Entertainment (WWE) and Zuffa, LLC, the UFC’s parent company, under Endeavor’s leadership.
The deal covers 13 major UFC events annually and 30 “Fight Night” installments, with most programming available on Paramount+. Select events will also air on CBS. Unlike current broadcaster ESPN+, Paramount+ will not impose additional charges for UFC content.
Despite securing a blockbuster deal, Paramount Skydance’s shares continued their decline, shedding another 3.7 percent on Monday on the Nasdaq. The company has faced investor uncertainty since announcing its formation on August 7 through the merger of Skydance Media and Paramount Global.
Paramount is also eyeing international UFC broadcast rights, though those negotiations are expected to take longer due to staggered contract expirations across different regions.
ESPN, which currently holds UFC rights in a $500 million per year deal, has not commented on whether it will bid again once its agreement ends.
The Paramount-TKO deal reshapes the combat sports media landscape, placing UFC content at the center of Paramount Skydance’s streaming strategy.
