Paramount secures UFC rights in $7.7 billion deal in first post-merger move

Paramount Global has secured the U.S. media rights to Ultimate Fighting Championship (UFC) in a landmark seven years deal since merging with Skydance.

The deal was locked in $7.7 billion and will be active from 2026.

This move marks a seismic shift in the broadcasting of combat sports. With this, the era of the pay-per-view model for ESPN has ended in favour of Paramount+’s subscription-based model.

Under this contract:

• Paramount will pay approximately $1.1 billion annually for UFC’s 13 marquee events and 30 “Fight Nights” per year.
• All UFC events will stream on Paramount+ including selective fights airing on CBS.
• Subscribers will pay only $12.99/ month without any extra costs.

The president and chief operating officer of TKO, Mark Shapiro, stated in an interview: “The pay-per-view model is antiquated.”

He further added: “What’s on pay-per-view anymore? Boxing? Movies on DirecTV? It’s an outdated, antiquated model. So, it was paramount to us, forgive the pun, where it’s one-stop shopping, especially for our younger fans in flyover states.”

While talking about young audiences, the president said: “When they find out, ’Wait, if I just sign up for Paramount+ for $12.99 a month, I’m going to automatically get UFC’s numbered fights and the rest of the portfolio? That’s a message we want to amplify.”

The deal was announced just 48 hours after Paramount’s merger with Skydance. It also appears to be among the top priorities of the new CEO, David Ellison, as he called UFC a “unicorn asset.”

Paramount also plans to acquire international rights with exclusive negotiation windows for renewals in 210+ countries.