TKO Group Holdings owns WWE professional wrestling and UFC mixed martial arts, combining two of the largest combat sports and entertainment properties in the world under one publicly traded company. Both WWE and UFC generate revenue through a mix of media rights deals with television and streaming networks, live event ticket sales, pay-per-view and premium livestream purchases, and licensing and sponsorship deals. Media rights fees have become an increasingly important revenue driver for both properties, as networks and streaming services compete for exclusive rights to broadcast live sports and entertainment content that draws large, engaged audiences. TKO was formed by combining WWE and UFC under Endeavor's ownership structure, creating a company with substantial negotiating leverage when renewing its media rights contracts given the scarcity of live combat sports content that networks value highly.