One big question around the long-drawn-out merger of Paramount and Skydance was what its new CEO, David Ellison, would do once he was in charge.

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.

Paramount (NASDAQ:PARA) has locked in exclusive U.S. streaming rights to the Ultimate Fighting Championship (UFC) for the next seven years in a blockbuster agreement valued at $7.7 billion, significantly boosting live sports content on Paramount+.