The Sports Business Journal reports that it has a new media rights deal for South Korea. CJ ENM is the new media rights holder under a multiyear agreement.
CJ ENM purchased an 80% stake in the Endeavor Content scripted studio last year. Although terms were not released, based on previous indications from Endeavor, it likely doubled its international rights deal in the country from what it received in past deals.
The new deal starts this Saturday with UFC 278 at the Footprint Center in Phoenix. UF Senior VP and Head of Asia Pacific Kevin Chang assisted in the agreement with CJ ENM.
Payout Perspective:
As mentioned recently, the UFC will also be closing an international right deal in the UK with BT Sport which will likely be double the amount of its previous agreement. These international rights fees, which last between 3-5 years on average, have been a boon for the company and Endeavor as it has cashed in on its ability to produce weekly content and events through the pandemic. In addition, its focusing efforts on the international part of its business which is paying dividends figuratively and literally.
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