Anheuser-Busch and UFC strike multiyear partnership, as brewer tries to turn around Bud Light sales

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Anheuser-Busch and UFC strike multiyear partnership, as brewer tries to turn around Bud Light sales
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The Ultimate Fighting Championship and Bud Light are back in business, announcing a new marketing partnership.

The Ultimate Fighting Championship and Anheuser-Busch are back in business, as they announced a new marketing partnership.

The sponsorship deal is "well into the nine figures," and the largest in the mixed martial arts promotion's history, a source familiar with the deal told CNBC on Tuesday. Anheuser-Busch's relationship with UFC dates back to 2008. In 2017, the mixed martial arts company took on the fast-growing Modelo as its official beer sponsor.

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