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16h ago

Fox Takes One-Third Stake in Penske Entertainment, Extends IndyCar Rights

The $125–135 million investment secures multi-year media rights for Fox as it adds an ownership role with a mandate for digital innovation, immersive content, calendar expansion

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 completed the acquisition of a 33% stake in Penske Entertainment, valued at $125–135 million, granting it part-ownership of IndyCar and the Indianapolis Motor Speedway.
  • The deal includes a multi-year extension of IndyCar’s broadcast rights, keeping Fox Sports as the series’ exclusive network home through the upcoming seasons.
  • Fox and Penske plan to use the investment to accelerate digital strategy, produce immersive content experiences and elevate driver promotion efforts across platforms.
  • This year’s Indianapolis 500 telecast delivered a 41% increase in viewership with 7.01 million average viewers and a 31% season-to-date ratings gain, underscoring early success.
  • The partnership paves the way for schedule expansion, including a new Arlington street race in 2026 developed in collaboration with the Dallas Cowboys and Texas Rangers.