Paramount makes surprise knockout bid for UK Champions League rights
US media group shocks sports rights market with European football push
US media group shocks sports rights market with European football push

Big media tie-ups have a poor record at creating value

Jared Kushner and Middle East funds assist with all-cash offer

US sports team valuations are dwarfing those of European football clubs as investors are drawn to closed league model

Agreement with mixed martial arts promoter is the largest since David Ellison took charge of Hollywood studio

Deal gets go-ahead just weeks after Hollywood studio paid $16mn to settle a lawsuit by the US president

Backing from Saudi Arabia, UAE and Qatar represents latest push into prized international media assets