Having experienced its own ultimate fight this fall with the launch of a cable competitor, CNBC is now devoting an hour to the fastest growing sport in the U.S.: Ultimate Fighting.

Calling it "an unprecedented event" CNBC is taking a look at the business behind the sport. "From Blood Sport to Big Time" looks at the rise of Ultimate Fighting and its effect not just on the sporting world but also on popular culture. CNBC's Scott Wapner hosts the one-hour documentary which premieres Thursday at 10pmET.