David Ellison, the new CEO of Paramount, pinned a major new deal for the media company he just took over.
Paramount Skydance on Monday announced a seven-year media rights agreement with Tko Group under which Paramount+ will become the exclusive home of all UFC events in the U.S. — pulling the mixed martial arts events from ESPN. Disney’s ESPN had secured a deal that, starting in 2019, featured the Mma promoter’s matchups on TV and pay-per-view in ESPN+.
The seven-year term, which begins in 2026, has an average annual value of $1.1 billion, with an overall value of $7.7 billion over that period.