Paramount Skydance, TKO Group announce UFC media rights agreement

Paramount, a Skydance Corporation (PSKY) and TKO Group (TKO) announced a seven-year media rights agreement in which Paramount will become the exclusive home of all UFC events in the U.S. Starting in 2026, Paramount will exclusively distribute UFC’s full slate of 13 marquee numbered events and 30 Fight Nights via its direct-to-consumer streaming platform, Paramount+, with select numbered events to be simulcast on CBS, Paramount’s leading broadcast network. As part of the agreement, UFC and Paramount will move away from UFC’s existing Pay-Per-View model in favor of making these premium events available at no additional cost to the expansive U.S. subscriber base of Paramount+. This shift in distribution strategy will unlock greater accessibility and discoverability for sports fans and provide an important catalyst for driving engagement and further subscriber growth for Paramount+. Paramount intends to explore UFC rights outside the U.S. as they become available in the future. The seven-year term, which begins in 2026, has an average annual value of $1.1B. The contract’s payment schedule is weighted more toward the back end of the deal.