"The addition of UFC's year-round must-watch events to our platforms is a major win," said Paramount CEO David Ellison, former CEO of Skydance, calling the mixed martial arts franchise a "global sports powerhouse".

The UFC recently signed a deal with CBS/Paramount+ to broadcast events on both networks. The deal will go into effect next year.

In a major deal, Paramount scores exclusive rights to UFC events, signaling the end of the pay-per-view model currently used by ESPN.