• by Wayne Friedman , Yesterday

Just days after Skydance Media completed its takeover of Paramount Global, it has announced a massive seven-year, $7.7 billion exclusive sport rights deal with TKO Group Holdings, a live sports and entertainment event company, for UFC (Ultimate Fight Championship) fights.

The TV/streaming deal for the mixed-martial arts fight organization includes 13 “marquee” events (formerly pay-per-view events) as well as 30 "UFC Fight Nights."

Those pay-per-view events will transition to airings on streaming Paramount+, at no additional cost to subscribers.

Some of these events will air simultaneously on CBS Television Network, most likely on Saturday night.

The effort is intended to broaden the viewer and advertising base for the still-young sport.

The deal amounts to an average annual cost to Paramount of $1.1 billion. But the company says the payment schedule is more weighted to the back end of the deal.

Paramount says it also plans to secure international UFC rights.

Currently, ESPN and ESPN+ air UFC programming. ESPN+ is the exclusive platform for UFC pay-per-view events.

ESPN airs other UFC content including “UFC Fight Nights” and some live events.

Over the most recent 12-month period, ESPN was estimated to have sold $11.6 million in national TV advertising, according to EDO Ad EnGage. During the previous 12-month period, it was estimated to have sold $26.4 million.

The Paramount/UFC deal follows a recent, but smaller, five-year deal that ESPN made with TKO for WWE wrestling events in the U.S. for $1.6 billion ($325 million a year).

TKO Group Holdings owns the rights to UFC, WWE (World Wrestling Entertainment), and PBR (Professional Bull Riders).

TKO also owns IMG, a sports marketing agency, and hospitality company On Location.

Year-round, the UFC produces 43 live events -- a total of 350 hours of live event content.