Paramount Global acquired the U.S. rights to Ultimate Fighting Championship (UFC) for $7.7 billion over seven years, the company announced Monday. Why it matters: The deal, which starts next year, was announced less than a week after Paramount completed its long-awaited merger with Skydance Media.

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

The seven-year deal, beginning in 2026, was the first major deal struck by Paramount after it finalized its merger with Skydance.