UFC, the mixed martial arts league, will be sold for $4 billion. That’s a handsome profit for the founders of Ultimate Fighting Championship, purchased for just $2 million in 2001.
UFC was launched in 1993 and purchased in 2001 by casino operators Lorenzo and Frank Fertitta. Chairman and CEO Lorenzo Fertitta said UFC was nearly bankrupt and “literally going of business” at the time.
UFC is being bought by a group led by Hollywood talent firm WME-IMG. UFC’s largest source of revenue is pay-per-view fees.
Matches are broadcast in over 156 countries and territories, to nearly 1.1 billion television households worldwide, in 29 different languages.