Paramount Acquires UFC Rights for $7.7 Billion After Skydance Merger

RIYADH, SAUDI ARABIA – February 01: Paramount Global has acquired the U.S. rights to the UFC for $7.7 billion in a seven-year deal. This announcement comes just days after the company completed its merger with Skydance Media.

The deal, valued at approximately $1.1 billion per year, includes UFC’s full slate of 13 marquee events and 30 ‘Fight Nights’ starting in 2026. All matches will be available for streaming in the U.S. via Paramount+, with select events simulcast on CBS. Unlike the previous model used by ESPN+, Paramount will not charge additional fees, eliminating the pay-per-view system.

Mark Shapiro, president and COO of TKO Group, which manages the UFC, discussed the shift away from the pay-per-view model, stating, “The pay-per-view model is a thing of the past… It’s outdated, antiquated. This will allow fans more convenient access to UFC events with a simple Paramount+ subscription for $12.99 a month.”

Previously, ESPN had secured rights to UFC for $500 million over five years, but that contract expires at the end of 2025. TKO’s leadership, initially aiming to sell only the Fight Night events, rapidly negotiated the entire UFC package just days after the Skydance merger.

CEO David Ellison emphasized the rarity of such a sports asset, noting, “UFC is a unicorn asset that comes up about once a decade.” Ellison, a self-identified UFC fan, sees the streaming rights as valuable due to the year-round nature of UFC events, which consists of 43 live events and 350 hours of programming annually.

In addition, Paramount aims to acquire the international rights to UFC, which become available on a rolling basis, enhancing its portfolio and viewer engagement across more than 210 countries. Shapiro explained that Paramount will have a 30-day exclusive negotiating period for rights renewal in each country.