TKO Group Holdings announced on Monday morning that UFC and Paramount agreed to an exclusive rights deal valued at more than $7 billion.

The UFC is ending its pay-per-view model in 2026 and will instead opt to send all fights in the United States to the Paramount+ streaming app. This landmark deal was struck between Paramount Skydance, the merged company that CEO David Ellison just took over.

UFC’s U.S. fans will no longer have to pay $80 per fight under a new $1.1 billion deal with Paramount+, but they’ll need a subscription to the streaming service.