Bellator MMA was founded in 2008 by Bjorn Rebney. Under Rebney's ownership, Bellator events were structured around single-elimination tournaments. Paramount Global (formerly Viacom) purchased majority ownership of Bellator from Rebney in 2011, with Paramount's television networks serving as the promotion's media broadcasters in the U.S. Since Bellator 206, this includes all events aired by Paramount Network, as well as seven exclusive cards per-year. In October 2023, Showtime announced that it would discontinue its sports division, with any future sports programming being handled by CBS Sports moving forward. On November 20, 2023 it was announced that the Professional Fighters League had acquired Bellator.