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Fox Corp Acquires One-Third Stake in Penske Entertainment, Secures Long-Term IndyCar Rights

Following record ratings this season, Fox’s move aims to power digital expansion and new street-venue races

Gary A. Vasquez-Imagn Images
May 23, 2025; Indianapolis, IN, USA; General view of an IndyCar on Fox logo with fans in the main grandstands during final practice on Carb Day for the Indianapolis 500 at Indianapolis Motor Speedway. Mandatory Credit: Mark J. Rebilas-Imagn Images
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Overview

  • Fox purchased a 33% interest in Penske Entertainment, gaining part-ownership of the NTT IndyCar Series and the Indianapolis Motor Speedway for a reported $125 million to $135 million.
  • The agreement includes a multi-year extension of Fox Sports’ exclusive broadcast rights for IndyCar, solidifying its role as the series’ long-term network partner.
  • In its debut season, Fox delivered a 41% jump in Indianapolis 500 viewership to 7.01 million and a 31% increase in average series ratings year-over-year.
  • Penske and Fox outlined growth initiatives focused on a hyper-engaged digital strategy, immersive multimedia content and enhanced driver star-building programs.
  • The partners confirmed plans for new street races in 2026, including events in Arlington, Texas, and Mexico City, as part of their expansion strategy.