Latest news with #SkydanceCorporation
Yahoo
2 days ago
- Business
- Yahoo
UFC moving to Paramount next year in $7.7 billion rights deal
On the heels of its megamerger with Skydance Corporation, Paramount has announced a seven-year, $7.7 billion deal to bring UFC to CBS. The agreement, announced Monday, Aug. 11, will give CBS and streaming service Paramount+ exclusive rights to broadcast 30 UFC Fight Nights and 13 marquee events each year, beginning in 2026. The deal doubles the annual value of UFC's current U.S. rights deal with ESPN+, according to Sportico, and it signals the end of the existing pay-per-view model currently in effect. "Live sports continue to be a cornerstone of our broader strategy – driving engagement, subscriber growth, and long-term loyalty," Paramount's new CEO David Ellison said in a statement. The deal also paves the way for an anticipated UFC event at the White House next July, which President Donald Trump has previously said was part of his plans for an elaborate celebration of the nation's 250th birthday in 2026. Ellison and Trump have been seen together at several recent UFC matches. Meanwhile, ESPN won't be left out in the cold when it comes to combat sports. Starting in 2026, the network will take over as the exclusive U.S. home for WWE's marquee events such as "Wrestlemania," "Summer Slam" and "Royal Rumble" under a new five-year deal. Those rights had been held by NBCUniversal, which streamed the matches on Peacock. Those events will be available on ESPN's new soon-to-launch streaming service, with some potentially simulcast on ESPN's linear outlets. WWE and UFC both share the same parent company, TKO Sports. This article originally appeared on USA TODAY: UFC, Paramount rights deal for 7-year, $7.7B set to begin in 2026
Business Insider
4 days ago
- Business
- Business Insider
Paramount-Skydance Merger Is Complete! CEO Ellison Outlines Future Roadmap
Paramount Global and Skydance Media have finally completed their $8 billion merger, putting an end to decades of legacy at the media giant. The PARA ticker was delisted from Nasdaq yesterday. The combined entity is now called Paramount, a Skydance Corporation, and has started trading under the new ticker symbol 'PSKY' on the Nasdaq. The merged company will transition from a traditional media giant into a 'tech-forward company.' Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Skydance's founder and CEO, David Ellison, has taken over as CEO of the new company. He faces a challenging path ahead to streamline operations and restore Paramount's former glory. On the occasion of the merger, Ellison shared his plans for the new company in an open letter to shareholders. He wrote, 'Today marks Day One of a new Paramount,' and, together with our leadership team, our board, and colleagues worldwide, 'we embark on the exciting next chapter of this legendary company.' Ellison Shares Paramount's Roadmap Ahead Ellison stated that, going forward, Paramount, a Skydance Corporation, will be split into three separate units: studios, direct-to-consumer (DTC), and TV media. He noted that this restructuring will help boost the company's efficiency and enable it to achieve its planned $2 billion in savings. This will also help the company reduce technology spending, which combined with other measures, will lead to cost efficiencies in labor, real estate, procurement, and workflow. Moreover, Ellison stated that, beginning next year, Paramount Plus and Pluto TV will move to 'a unified technology stack' to improve performance and cut operational costs. This integration, he said, will enhance the company's services and user experience by improving recommendations and speeding up delivery. It will also help Pluto TV attract new customers to Paramount Plus. The new company will deliver more movies, TV series, sports, news, and games to global audiences. Ellison plans to integrate advanced technology and artificial intelligence (AI) to boost innovation, localize shows to new language markets overnight, and build a proprietary ad-tech system to maximize yield across streaming and linear platforms. To conclude, Ellison hopes to restore Paramount's legacy and position it as a leader in the future of entertainment by leveraging the company's strengths and embracing change. Which Is the Best Media Stock, According to Analysts? We used the TipRanks Stock Comparison Tool to determine which media stock is currently favored by analysts. Investors can choose to invest in any company after conducting thorough research. Currently, Wall Street has awarded a 'Strong Buy' consensus rating to The Walt Disney Company (DIS), with a 20% upside potential in the next twelve months.
