Paramount will become the new home to all Ultimate Fighting Championship events in the U.S. and 30 "Fight Nights," TKO Group announced.

The UFC inked a landmark seven-year, $7.7 billion deal to move to Paramount starting in 2026, which includes the end of the traditional pay-per-view model. For decades, the UFC has relied on pay-per-views to fuel almost every major show the organization has promoted but that all changes under the terms of the new deal.

Paramount shares were up 4.2% in premarket trading. The company will carry the UFC's full U.S. slate of 13 numbered events and 30 Fight Nights on its Paramount+ streaming service, with select numbered events simulcast on its CBS broadcast network.