Paramount lands $7.7 billion deal to stream all UFC events in the U.S. for 7 years

The Paramount-TKO deal has an average annual value of $1.1 billion—a significant increase from the roughly $550 million that ESPN reportedly pays each year.

Paramount will become the new home to Ultimate Fighting Championship events across the U.S. next year, through a seven-year agreement announced with TKO Group on Monday.