Deal Overview - Paramount will acquire the US rights to UFC in a $77 billion deal beginning in 2026 [1] - The deal involves moving away from the pay-per-view model for UFC [1] - TKO Group shares increased by more than 15% following the announcement [1] Strategic Rationale - Paramount aims to integrate UFC content into its streaming service, CBS [3] - Paramount has aggressive plans for the next seven years, aligning with UFC's vision [3][4] - The move to CBS and other major platforms could significantly increase viewership due to a lower price point of $13 instead of $80 [7] Pay-Per-View Model - While the pay-per-view model isn't dead, UFC recognizes the potential for broader reach through streaming [5][6] - UFC still performs well on pay-per-view, with events like the one in Chicago expected to do very well [5] Impact on Fighters - Fighter pay has consistently increased since the company's acquisition and will continue to rise [10] - An immediate change in fighter pay is expected in January [10] Production and Innovation - UFC is committed to innovative production and prefers to handle production internally rather than letting networks do it [11][12]