Fox acquires 33% stake in IndyCar owner Penske…
Fox revved up its investment in auto racing by scooping up a 33% stake in Penske Entertainment, the Roger Penske-owned entity that holds Indianapolis Motor Speedway and IndyCar among its belongings, the businesses stated Thursday.
The sale was described as a strategic investment and partnership designed to launch new growth for IndyCar and contains a multi-year contract extension for Fox Sports’ media rights deal with the open-wheel sequence.
Fox Sports is in its first season broadcasting IndyCar.
“We’re thrilled to be a part of the IndyCar possession group at such a pivotal time…
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