TKO Group up, Paramount Skydance down after $7.7 bln US rights deal for UFC

Shares of live entertainment company TKO Group TKO.N, which owns UFC jump 7.3% to $175.3

TKO on track for its biggest one-day gain since March 2024, if gains hold

Starting in 2026, Skydance-owned Paramount PSKY.O will become the exclusive U.S. home of UFC under a seven-year rights deal valued at around $7.7 bln

*PSKY will exclusively distribute UFC's full slate of 13 marquee numbered events and 30 Fight Nights via its direct-to-consumer streaming platform, Paramount+, with select numbered events to be simulcast on CBS

*"Even with this blockbuster deal, TKO retains key international rights and gains a valuable 2 minutes of ad inventory per hour," Jefferies analysts say

PSKY down 1.1% to $10.4 after gaining about 1.5% earlier in the day

Including sessions' moves, TKO up more than 23% YTD, PSKY flat