Thanks, Seth. TKO's unique ability to deliver one-on-one live events and experiences was front and center in the second quarter. Nothing illustrates this better than UFC Freedom 250 held in June. This event was a roaring success for our company, the UFC brand and the sport of mixed martial arts, exposure, earned media, audience expansion and a weekend long fan experience. TKO also played an integral role in the success of this year's record-breaking FIFA World Cup, where On Location staged the largest hospitality program in the tournament's history. Fans from 154 countries purchased more than 600,000 hospitality packages across 104 matches in 16 host cities. The qualitative feedback on our delivery bodes well for the continued growth of On Location and affirmatively sets the table for what will be a historic LA28 Olympic Games. TKO is poised for monumental growth at a time when consumers are deliberately choosing in-person experiences. Our content can't be manufactured or automated. And as the rise of AI inevitably changes how we spend our time, live events built on scarcity, marketable IP and durable repricing power win out. Physical experiences still command the biggest share of the wallet, and we're one of the very few companies that actually lead in this space across multiple properties at scale and globally. As we look to the back half of 2026, we're raising our full year guidance with conviction in our business is stronger than ever. And with that, Mark will take you through the quarter.

Thanks, Ari. We've consistently stated that 2026 is a year of execution for TKO. The second quarter confirmed that. From WrestleMania 42 in Las Vegas in April, to WWE's Clash in Italy in May, to UFC Freedom 250 in our nation's capital in June, to crowded stadiums around North America for the FIFA World Cup to IMG's partnership with the EuroLeague Final Four in Athens, TKO has served and captured fans while demonstrating excellence from every corner of the business. There was no bigger headline or spotlight this quarter than UFC Freedom 250 at the White House. The card, the production, the storytelling was a once-in-a-lifetime spectacle on the biggest stage possible and fans turned out and tuned in. The Ellipse Fan Fest was attended by more than 130,000 fans over 2 days. The 7-Bout Fight Card itself reached more than 34 million total viewers in reported markets, including 17 million viewers across the U.S. and Latin America on Paramount+. And this goes well beyond a single event. Since the start of the year, 20 million subscriber households have watched more than 200 million hours of UFC programming on Paramount+, delivering viewership more than 23x the average UFC pay-per-view event over the past 2 years. That's the strength of the Paramount partnership at work in just 6 short months and proof that removing the double pay wall was indeed the right decision. TKO properties' outsized impact on conversation, subscriber acquisition and retention is undeniable. Beyond the audience numbers, the event generated more than $1 billion in earned media value, the kind of exposure, only a handful of events in the world can command. It also deepened our commercial relationships, adding 25 new marketing partners to our roster, many signing multiyear or multi-event deals. Andrew will cover the events financials in more detail, but I can tell you unequivocally that our investment in this event, time, energy, focus, delivered results as designed. While we won't hold another event in the backyard of the White House, we will continue to be bold and creative on the hunt for new audiences, new venues and new experiences that make the UFC truly singular. Looking beyond our White House event, UFC sold out arenas and secured financial incentive packages around the globe, including in Perth, Macau and Newark, New Jersey, where our return to the Prudential Center became the highest grossing event in Arena history. Similarly, in Azerbaijan, our return to Baku drew more than 10,500 fans with 40% of those fans traveling in from more than 70 countries. UFC 329 in Las Vegas last month was also a standout, becoming the highest grossing event in UFC history. The same June evening that UFC returned to Baku, WWE returned to Riyadh for a successful Night of Champions, drawing a sold-out crowd of more than 18,000 fans. Building on last month's successful return to Abu Dhabi, our remaining events in the Middle East are all systems go as planned for the remainder of 2026. WrestleMania 42 drew more than 106,000 fans and one of the highest all-time gates in WWE history. WWE Backlash sold out in Tampa, Saturday Night's Main Event sold out in Fort Wayne, Indiana and WWE staged a run of successful events across Europe, spanning the U.K., Spain, France, and Portugal headlined by the aforementioned Clash in Italy, WWE's first-ever premium live events in the country. Coinciding with our local launch on Netflix, Clash sold out Turin's Inalpi Arena and set the record for the highest grossing entertainment event ever at that arena. This is a long way of saying that demand for WWE events is insatiable, and we're in the position of being at the controls of creating this demand. We have full autonomy over where we bring every event and we can be surgical in our approach to growing our fan base for the long term. Our decision-making is deliberate. SummerSlam is a prime example. Following last year's record 2-day event at MetLife Stadium, we decided to take this premium live event to Minneapolis this summer for our first-ever stadium show in the city, backed by a meaningful financial incentive package. The 2-day show was extraordinary. The sold-out corresponding WWE Fanfest delivered strong engagement metrics. Across TKO, we prioritized both the fan experience and improving profitability. They are not mutually exclusive, and they are not always in that order, which brings me to a recent chatter around WWE viewership. On Netflix, WWE Raw was a global top 10 title every single week of the second quarter. And beyond our expansion with Netflix into Italy, we recently launched premium live events with the streamer in Germany, Austria and Switzerland as markets continue to come online. With ESPN in the United States, WrestleMania Night 1 is the #1 program on ESPN2 this year, while Backlash and Clash in Italy, both had strong viewership. Meanwhile, SmackDown on USA Network was a top 3 Friday cable show in the United States among adults 18 to 49 in 9 of 13 weeks in the quarter with 3 #1 finishes. These numbers tell the real story. And I would add that TKO properties like UFC, WWE, PBR and increasingly Zuffa Boxing are purpose-built for our current social media environment. Social media amplifies our events. Shared highlights and content don't substitute for the event itself. They market the next one. Our financial incentive packages strategy is also gaining meaningful traction. Our properties deliver real economic impact in cultural connection for cities. And that value increasingly shows up in the deals we strike with tourism boards states and local municipalities and private partners. We're still early and the runway to scale this in more markets and cities across all our properties and for bigger commitments is significant. Our strategy is working and our target of $380 million to $420 million by the year 2030 is on plan. To that point, in May, we signed a landmark 3-year 7 event agreement with the Arizona Sports & Events Alliance, spanning UFC, WWE, PBR and Zuffa Boxing, one of the broadest multiproperty financial incentive package deals we put together to date. And next week, UFC 330 brings a championship bout back to the City of Brotherly Love, Philadelphia. For the first time in 15 years as part of the city's America 250th celebration, another market investing in TKO to drive economic impact. The value of our live events is undeniable, and it's only going to grow from here. As already mentioned, while AI makes content cheaper and easier to produce, what can't be manufactured becomes scarcer and more valuable. That is live communal events that people crave and organize their calendars to travel to and from. And there's no bigger example of that than the FIFA World Cup 2026. For On Location, the numbers speak for themselves. World Cup hospitality sales surpassed $2 billion from more than 568,000 packages sold through the second quarter. And that's before accounting for 25 matches in July. Demand remained exceptionally strong, straight from the group stage through to the final with significant last-minute purchasing activity across every sales channel. And this isn't only a World Cup story. On Location's portfolio of events is seeing similar anticipation and appetite, most notably the LA28 Olympics, which, while still 2 years away, has already generated orders from more than $280 million on over 20,000 bookings. The success of our hospitality and experiential program doesn't merely speak to a trend. But instead, what is quickly becoming the norm. Front-of-the-line access and the consumers' increasing desire to pay more for a personalized, customized offering. Meanwhile, the IMG business continues to partner with some of the most iconic sporting events globally. Recently, we drove sponsorship and broadcast coverage for the most watched Wimbledon since 2019 and for the Open Championship at Royal Birkdale, where IMG produced the live broadcast of every shot seen around the world across 217 territories. The range of this business is a true differentiator and these invaluable relationships deliver real commercial outcomes that compound over time across the entire TKO portfolio. At PBR, the business had an extraordinary quarter. Our Space Cowboys event at the U.S. Air Force Academy sold out and drew nearly 31,000 fans. It also aired on Fox Nation and was supported by a significant financial incentive package. This was a strong cultural moment as part of America's 250th celebration. PBR Team series is currently in full swing, and we are in active discussions with several potential investors for new franchises. Finally, turning to boxing, where we're building international scale and strengthening our roster. Zuffa Boxing staged our first international event in Bournemouth U.K., activating our new Sky Sports media partnership. Zuffa Boxing also made its New York City debut last week at Madison Square Garden's Infosys Theater. We are signing world-class talent, most notably Shakur Stevenson, one of the biggest names in American boxing. And on September 12, we will return with TKO's next super fight, featuring Ryan Garcia versus Conor Benn at T-Mobile Arena in Las Vegas, airing on Paramount+ globally and on DAZN in the U.K. and Ireland. The growth of this asset is comfortably ahead of schedule. Altogether, the second quarter was another period of disciplined, high-quality execution. Sports has become the anchor of premium media, commanding unrivaled live audiences and cultural relevance. TKO offers leverage to secular growth in live sports and entertainment, and in many ways, TKO has defensive business model characteristics to AI disruption risk. Demand for live entertainment shows no signs of slowing, and owners of differentiated IP that offer differentiated live experiences like TKO does, will be first in line to benefit. Our strategy is tight and fit for the time. Demand for live events and premium IP in the experience economy, growth in global partnerships, significant step-ups from our media deals delivering high-margin returns, momentum in financial incentive packages, over 70% of long-term contracted revenue at UFC and WWE, providing visibility and predictability, the development of Zuffa Boxing as our next significant combat sports asset and On Location's total beatdown Victory Lap with the World Cup hospitality program, not to mention the fact that the stage is well set for the L.A. Olympic Games. These are the catalysts for TKO. As I turn it over to Andrew, who will review our second quarter financial results, I would be remiss not to reiterate our commitment of returning capital to shareholders through dividends and share repurchases. Given the recent volatility and trading levels of our stock, we intend to commence an additional buyback in the near term as previously authorized by the Board. With that, Andrew?

Good afternoon. We delivered strong operating and financial results across our businesses in Q2, and we continue to execute at the highest levels on the world's biggest stages. Given our performance to date and our visibility into the remainder of the year, we have raised our full year outlook. Before getting into the numbers, I want to remind you of 2 items that had an impact on results this quarter, specifically UFC Freedom 250 and the FIFA World Cup. First, with regards to UFC Freedom 250, we incurred significantly higher-than-normal costs, which we partially offset with sold out global partnerships inventory. As a reminder, we did not sell tickets and therefore, did not record any live events revenue. Given the events financial profile, which as anticipated, resulted in approximately $30 million loss, our margins at UFC as well as on a consolidated basis, were meaningfully impacted. Second, revenue and adjusted EBITDA for the FIFA World Cup are recognized based on the volume of matches delivered and as such, will benefit both Q2 and Q3. In the second quarter, we recorded approximately $45 million of adjusted EBITDA at the IMG segment. Given the scale and complexity of this event, we're still in the process of closing out our books to determine the final financial results, but we now expect to exceed our estimate of approximately $75 million in adjusted EBITDA for the full year. Moving to our consolidated results for the second quarter. We generated revenue of $1.547 billion and adjusted EBITDA was $650 million. Our adjusted EBITDA margin was 42%. Revenue increased 18%, adjusted EBITDA increased 23% and adjusted EBITDA margin increased approximately 180 basis points as compared to the prior year. Removing the impact of UFC Freedom 250, we would have seen significantly higher total company margin expansion. In the quarter, UFC generated revenue of $536 million, an increase of 29% or $120 million. Adjusted EBITDA was $280 million, an increase of 15% or $36 million. UFC's adjusted EBITDA margin was 52%, down from 59% in the prior year period. Removing the impact of UFC Freedom 250, UFC margins would have increased meaningfully year-over-year. As previewed on our last call, UFC's event mix had a notable impact on Q2 results. UFC held 12 total events in the period, 2 numbered events and 9 fight nights plus UFC Freedom 250 compared to 11 total events in the prior period, comprised of 4 numbered events and 7 fight nights. Media Rights production and content revenue increased 25% to $325 million, driven by a step-up in media rights fees related to the Paramount deal that began in January and would have been even higher if it were not for the fact we held 1 fewer numbered event compared to 2 additional fight nights, which had an unfavorable net impact in the quarter. Partnerships and marketing revenue increased 69% to $145 million, driven by the addition of new partners and higher renewals from existing partners, largely related to UFC Freedom 250. We successfully leveraged this unique event to strengthen our relationships with existing partners, including Ram and Crypto.com and create a point of entry for new categories and partners, including Exodus, Anduril, Supersure and Starlink. Consumer Products Licensing was a bright spot, with revenue increasing 61% to $18 million. We're seeing improved royalties from our main licensees, a direct correlation to the strength of the UFC brand. We also released EA Sports UFC 6 on June 19, delivering by far our strongest launch in franchise history across all financial and engagement metrics. As expected, live events and hospitality revenue decreased 18% to $48 million due to the mix of events and venues, most notably the absence of ticket sales for UFC Freedom 250 and 1 fewer numbered event. Despite the decline in the quarter, we continue to see strong demand for our recent events, including record gates for both UFC 328 at the Prudential Center in Newark, and UFC 329 at T-Mobile Arena in Las Vegas. With respect to financial incentive packages, we are successfully executing on our strategy. We are leaning in and laser-focused on generating more value for our brands from a mix of public and private funding sources domestically and abroad. The economic growth, community connection and global attention we deliver for our partners, combined with the range of UFC, WWE, PBR and Zuffa Boxing events and offerings across our portfolio, is fueling a significant increase in inbound interest, driving higher renewal rates and forging new relationships in more markets. We are pairing that inbound demand with a targeted outbound effort leveraging our reach and relationships as well as IMG and On Location's global networks to open doors in key growth markets. In the days leading up to UFC Freedom 250, we met with dozens of existing and new contacts in Washington, D.C., a clear example of how our access and the attractiveness of our events can translate into opportunity. At UFC, financial incentive packages almost doubled year-over-year. We returned to Newark and Baku, 2 locations with FIPs in the prior year quarter, where we were able to increase revenue for 2026. UFC 327 was the first time we received a significant FIP in connection with an event in Miami. Our Fight Night event in Macau was the first under a new multi-event relationship that includes a meaningful FIP, and our event in Perth included a package under a multiyear agreement. Adjusted EBITDA reflected the increase in revenue, partially offset by an increase in expenses. Direct operating expenses primarily reflected an increase in athlete, production and other event-related costs, most notably driven by UFC Freedom 250. SG&A increased primarily due to higher personnel and travel costs compared to the prior period. Our WWE segment generated revenue of $621 million in the quarter, an increase of 12% or $65 million. Adjusted EBITDA was $368 million, an increase of 12% or $39 million. Adjusted EBITDA margin was 59% on par with the prior year period. As with UFC, WWE's event mix impacted results in Q2. We held 22 international events in the period, including a European tour and the Clash in Italy PLE in Turin compared to 2 international events in the prior year period. Going into the year, we scheduled additional international events overall and staged significantly more in Q2 as part of a strategy to deepen and broaden our global fan base, grow international partnerships revenue that has historically lagged our domestic events and strengthen our pipeline of financial incentive packages outside the U.S. On partnerships, we believe there's immediate opportunity to grow WWE's international portfolio. The next leg up will be a function of, amongst other things, us leaning in further with Netflix, where all our content sits internationally, leveraging our collective expertise, inventory and relationships to maximize value from fully integrated broadcast and in-venue packages. We are opening doors for each other and with the support of IMG's global network, expanding our pipeline of prospective partners around the world. Although international events currently come with a higher cost profile, we view that spend as a strategic investment with attractive long-term potential. Media rights production and content revenue increased 29% to $360 million primarily reflecting higher media rights fees related to the ESPN agreement that began last September. Consumer products licensing and other revenue increased 38% to $46 million, driven by higher royalties for trading cards and other collectibles compared to the prior year period. While a relatively modest portion of our overall business, we continue to make progress in this growing area at both UFC and WWE and in no small part due to our recent multi-property deal with Fanatics. Partnerships and marketing revenue increased 8% to $63 million, driven by new partnerships and renewals across multiple categories. The most notable driver of these results, WrestleMania 42, featured a record 32 partners, including Snickers, 2K, Riyadh Season, Ram and DoorDash, among others. As we saw in Q1, this growth came despite the additional international events. Live events and hospitality revenue decreased 18% to $152 million, almost exclusively related to a decrease in ticket sales for WrestleMania 42 compared to the prior year period. Adjusted EBITDA reflected the increase in revenue, partially offset by an increase in expenses. Direct operating expenses increased primarily due to higher talent, production and other event-related costs and SG&A increased primarily due to higher travel costs. Both of these increases were a result of the additional international events. Despite the incremental spend, we expect WWE margins will increase meaningfully for the full year. Shifting now to our IMG segment. We generated revenue of $355 million, an increase of 16% or $48 million. Adjusted EBITDA was $79 million, an increase of 171% or $50 million. Adjusted EBITDA margin was 22%, up from 9% in the prior year period. As we previewed on our last call, the increase in revenue primarily related to the favorable impact of World Cup hospitality sales at On Location. Revenue at the IMG business decreased slightly over the prior year period due to the expiration of certain deals, most notably a contract for Italy's premier professional cycling event. The decrease was partially offset by increased demand for Stars on Ice, the touring figure skating show, which benefited from heightened consumer enthusiasm coming off the Milano Cortina Olympics and growth in Sport 24, our owned live sports channel for airlines and cruise ships. Adjusted EBITDA primarily reflected the increase in revenue as expenses were essentially flat compared to the prior year. Corporate and Other generated revenue of $49 million, an increase of 9%. Adjusted EBITDA was negative $77 million, essentially flat with the prior year period. The increase in revenue was primarily driven by higher management fees related to our boxing initiatives. As well as higher live events and partnerships revenue at PBR, driven by our Space Cowboy event held at the U.S. Air Force Academy, which included a sizable FIP. Adjusted EBITDA reflected the increase in revenue, offset by an increase in expenses, primarily due to higher personnel and other operating costs. Now moving on to our capital structure. In the second quarter, we generated $350 million of free cash flow. Our free cash flow conversion of adjusted EBITDA was 54%. Free cash flow included the favorable impact of $22 million of net collections related to On Location for the FIFA World Cup. Free cash flow also included the unfavorable working capital impact of UFC's new media rights deal with Paramount. Turning to capital allocation. As Mark noted, maintaining a robust and sustained capital return program remains a top priority. Year-to-date, we've returned in excess of $1.3 billion of capital to equity holders through our dividends and share repurchases. On June 30, we made our Q2 cash dividend payment from TKO OpCo of approximately $150 million or $0.79 per share. We intend to continue to fund quarterly cash dividends with cash flow from operations or cash on hand. Regarding share repurchases, as we previously disclosed, on June 30, we completed our most recent ASR agreement to repurchase $800 million or approximately 4.2 million shares of our Class A common stock. In May, we commenced repurchases under a 10b5-1 trading plan for up to $200 million of our Class A common stock. We completed the program in July and in the aggregate, we purchased an additional 1 million shares under the plan. Currently, we have just over $1 billion available under our previously authorized repurchase program. As disclosed in our earnings release, we intend to commence additional buybacks under our existing program in the near future. Given the strength of our balance sheet and what we believe to be a dislocation in our stock price relative to its intrinsic value, we continue to view this as a highly value-accretive opportunity. We ended the quarter with $4.659 billion in debt and $593 million in cash and cash equivalents in addition to $960 million of restricted cash. As of the end of Q2, Net leverage was 2.2x based on net debt of $4.067 billion and LTM adjusted EBITDA of $1.841 billion. Now turning to our outlook. As you've heard us say on prior earnings calls, we manage the business with a focus on full year performance. Therefore, we believe the results are best evaluated on a full year basis, given the quarterly fluctuations that are inherent in our operations, most notably related to the timing of our live events and the mix of locations, venues and cards. As announced in our press release, we are raising our full year 2026 guidance for revenue and adjusted EBITDA. We are now targeting revenue of $5.775 billion, to $5.825 billion and adjusted EBITDA of $2.275 billion to $2.305 billion, representing an increase of $75 million and $25 million, respectively, at the midpoint of the ranges as compared to the prior guidance issued in February. The increase is based on strong operating performance across our businesses for the first 6 months of the year and our anticipated performance for the remainder of the year. Regarding our event calendar and cadence, we continue to closely monitor developments in and around the Middle East with regard to potential implications on our business. Year-to-date, we've successfully staged every event we originally planned, including 2 events on June 27, WWE Night of Champions in Saudi Arabia and a UFC Fight Night in Azerbaijan as well as a UFC Fight Night in Abu Dhabi just 9 days ago on July 25. And as Mark noted, we're moving forward with our remaining events in the region, including a WWE PLE and a UFC numbered event. With respect to UFC, the Paramount era has allowed us to level set and benchmark our athlete pay without diluting our margins. Having said that, our business catalysts, media rights, global partnerships, live events and FIPs and consumer products licensing, all significantly high-growth, high-margin contributing verticals have and will enable us to absorb the incremental costs while still meaningfully enhancing our margin profile in 2026 and beyond. Consistent with our prior calls, while we are not providing quarterly guidance, we want to highlight a few notable items as we look to the third quarter. At UFC, media rights revenue will continue to reflect the step-up from the Paramount rights deal. The mix of live events in the quarter will also favorably impact results. We expect to stage 12 events in Q3 '26 and 3 numbered events and 9 Fight Nights. This compares to 10 events in the prior period, which included 2 numbered events and 8 Fight Nights. With respect to FIPs, the Fight Night held in Abu Dhabi carried a meaningful incentive package, as did a similar event we hosted in the market in Q3 of last year. The Fight Night held this past weekend in Belgrade and UFC 330, which will take place in Philadelphia on August 15, also carry significant FIPs. At WWE, the timing of live events in the quarter will negatively impact our results. Q3 has one premium live event, SummerSlam compared to 4 in the prior period. Media rights will continue to reflect the step-up for the ESPN rights deal, but the decrease in total nights of PLE programming will impact results. Live Events and Partnerships revenue will also reflect the decrease in events as well as production costs and other event-related expenses. At the IMG segment, we expect results will reflect the continued benefit of On Location's World Cup hospitality program as well as the positive impact of a number of IMG's signature tennis and golf events, including the U.S. Open, Wimbledon and the British Open. These benefits will be partially offset by continued spend in support of our ongoing sales efforts for LA28. At Corporate and Other, we expect our results to reflect the contribution from the Garcia-Benn boxing match on September 12. As a reminder, we provided services for the Canelo-Crawford match in the prior year period. So we expect the impact of our boxing initiatives to be relatively comparable. In terms of free cash flow, while we have not given formal guidance, we continue to target a free cash flow conversion rate in excess of 60% and normalizing for the impact of net payments related to the World Cup and UFC's rights deal with Paramount. In conclusion, we generated strong results in the first half of the year, underscoring the momentum across our businesses. As we turn to the second half, we remain focused on disciplined execution and continuing our robust capital return program. Our confidence in the path ahead is grounded in the fundamentals of this business, world-class IP deeply engaged global audiences, diverse and recurring revenue streams and significant runway for growth. With that, I'll turn it back to Seth.

Thanks, Andrew. Operator, we're ready to open the call for questions.