The Ultimate Fighting Championship mixed martial arts company has been sold to talent agency WME-IMG, according to ESPN and other news outlets.

The Las Vegas-based mixed martial arts company was sold for $4 billion. UFC president Dana White — who reportedly will remain with the organization — confirmed to ESPN the UFC sale. An official announcement is exepected later today. 

Zuffa Inc's Lorenzo Fertitta, Frank Fertitta and White bought the UFC in 2000 for $2 million, and has since built a multimedia sports organization that has thrived on television. While most of the UFC’s biggest fights have been on pay-per-view, the organization in 2011 reached a seven-year distribution deal with Fox Sports to air live fights, as well as its reality series The Ultimate Fighter, on Fox TV outlets including FS1 and Fox broadcasting network.

 The UFC Saturday completed its UFC 200 pay-per-view event, which generated $10.8 million in live ticket sales.