About 35 million households have stopped paying for the sports cable channel ESPN over the past 15 years. Another 30 million will join them in the next decade, according to internal projections. Jimmy Pitaro has a plan to win some of them back.

The move comes as media companies look to nab more consumers for their streaming alternatives, and draw them in with sports, in particular.

Paramount Skydance announced a seven-year media rights agreement in which Paramount+ will become the exclusive home of all UFC events in the U.S. -- pulling the mixed martial arts events from ESPN.

"CBS Mornings" parent company Paramount has secured U.S. TV rights to UFC in a $7.7 billion deal. MoneyWatch correspondent Kelly O'Grady reports on what the move means for the league and its fans.