FOX Corporation has acquired ownership stake in Penske Entertainment
FOX Corporation has acquired a one-third ownership stake in Penske Entertainment
FOX Corporation has acquired a one-third ownership stake in Penske Entertainment, the parent company of IndyCar and the iconic Indianapolis Motor Speedway. The partnership aims to boost IndyCar’s future growth by focusing on racing innovation, immersive content strategies, and developing driver personalities. FOX Sports will continue as the long-term broadcast home of the series, with a multi-year extension of IndyCar’s media rights agreement. The deal comes as IndyCar has seen substantial audience growth, with FOX reporting record-breaking viewership numbers for the Indianapolis 500. Additionally, IndyCar plans to expand its footprint with new races in Texas and Mexico City in 2026.
