As these shifts take place, the media industry is about to go through a major test: how many people are willing to pay for a lot of — but not all — the sports content they want to watch.

Paramount has struck a blockbuster deal to become the exclusive US broadcaster of UFC fights, agreeing to pay $7.7 billion over seven years starting in 2026. The deal, with UFC parent company TKO Group,

Days after completing its merger with Skydance, Paramount has acquired the U.S. rights to TKO Group’s UFC for seven years, beginning in 2026