Business · Companies · 6 hrs ago
WWE-Netflix Deal Gave Netflix First Chance to Negotiate for UFC Rights
A newly unredacted legal document says WWE’s deal with Netflix gave Netflix the first chance to negotiate for UFC’s US media rights.
WWE and UFC are both part of TKO, the same corporate group.
The detail emerged from a WWE shareholders’ lawsuit in Delaware Chancery Court.
Netflix did not get the UFC rights; they went to Paramount instead.
The UFC’s seven-year, $7.7 billion media rights deal began in January 2026.
Netflix reportedly passed because it preferred major individual events to UFC’s full schedule of more than 40 events.
WWE cited the negotiations to argue its merger with UFC benefited media deals, while a shareholder-side expert had argued otherwise.
WWE’s media rights deal with Netflix gave the streaming company the first chance to negotiate for UFC domestic media rights.
Those rights eventually went to Paramount, not Netflix.
The detail appeared in an unredacted portion of a legal document in the WWE shareholders’ lawsuit.
Wrestlenomics reporter Brandon Thurston reported the document’s contents.
WWE argued in the lawsuit that its merger with UFC benefited media rights deals, contrary to a plaintiffs’ expert’s assertion.
- Who
- Netflix had the first right to negotiate; Paramount ultimately secured the UFC rights.
- What
- WWE’s media rights deal with Netflix gave Netflix the first chance to negotiate for UFC domestic media rights.
- When
- The WWE and Netflix deal was signed in early 2024; the UFC rights deal began in January 2026.
- Where
- The rights were for UFC domestic media.
- Why
- The provision was part of WWE’s media rights deal with Netflix; the sources do not state why Netflix did not secure the rights.
WWE
Plaintiffs’ expert
Media rights impact
WWE
WWE argued that its merger with UFC benefited media rights deals.
Plaintiffs’ expert
The plaintiffs’ expert asserted that the merger did not benefit media rights deals.
WWE and Netflix signed a media rights deal that gave Netflix a right of first negotiation for UFC domestic media rights.
The UFC’s seven-year, $7.7 billion media rights deal began.
Brandon Thurston posted about the unredacted document and the rights ultimately going to Paramount.
Fightful and Wrestling Observer published reports about the provision.
- Negotiation right
- Netflix had the first right to negotiate for UFC domestic media rights.
- Rights outcome
- Paramount, not Netflix, secured the UFC rights.
- Contract timing
- WWE and Netflix signed their deal in early 2024.
- UFC deal
- Seven years, $7.7 billion; began in January 2026.
- Legal case
- The information was revealed in an unredacted portion of a document in the WWE shareholders’ lawsuit.
2 sources
What people are saying
Unredacted: WWE’s media rights deal with Netflix gave Netflix first rights to negotiate for UFC domestic media rights. Those rights ultimately went to Paramount, not Netflix.
Posts on X
Unredacted: WWE's media rights deal with Netflix gave Netflix first rights to negotiate for UFC domestic media rights. Those rights ultimately went to Paramount, not Netflix.
WWE's attorneys raised this in the merger lawsuit as part of litigation about whether post-merger media rights evidence should be included at (the ultimately cancelled) trial. WWE argued merging with UFC benefited media rights deals, contrary to plaintiffs' expert's assertion.