Overview

• Paramount and CBS secured a seven-year, $7.7 billion U.S. rights deal starting in 2026, with every UFC event on Paramount+ at no extra charge and select cards on CBS.
• TKO president Mark Shapiro said talks with Netflix were "pretty close," but the streamer would not take the event volume and only wanted the numbered pay-per-view cards.
• Shapiro cited Netflix’s preference for one-off spectacles and its existing WWE Raw commitment as factors in the streamer declining the UFC’s Fight Night slate.
• Paramount won by agreeing to carry the full calendar and cross-promote across CBS and Paramount+, a package Shapiro called the best fit for growth.
• ESPN chairman Jimmy Pitaro acknowledged surprise at the outcome and said the network must make tough choices as UFC exits after nearly a decade on ESPN.