The UFC has been sold for approximately $4 billion to a group led by Hollywood talent agency WME-IMG. WME purchased IMG, the sports and event management group, in 2013, and the talent agency has evolved into a multifaceted entertainment company. UFC owners Lorenzo and Frank Fertitta have tapped out of the company after nearly 16 years, although they'll retain a minority interest. White will stay onWhite will stay on to run the UFC, which has grown from a money-losing promotion in a minor sport into a global entertainment brand. Although the UFC has received occasional criticism from fighters for its pay scale, its ability to control talent costs is a major factor in its profitability.

Source: CBC News July 11, 2016 12:22 UTC