Roger Penske of Team Penske poses for a photo with Josef Newgarden Photo by James Gilbert/Getty Images Share on Facebook Share on X Share to Flipboard Send an Email Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Print the Article Post a Comment Fox Corp. is making a major investment in motorsports, acquiring a one third stake in Penske Entertainment, the company that owns the Indycar circuit and the Indianapolis Motor Speedway, which is home to the Indianapolis 500. The deal also includes a multi-year extension of Indycar's media rights deal with Fox Sports. Indycar rights had previously been with NBCUniversal, but Fox took over the rights earlier this year, promising a major push for the circuit. This year's Indy 500 averaged over 7 million viewers, a significant increase from the year prior. Related Stories TV TNT Sports Quadruples Down on Savannah Bananas, Will Televise Banana Ball Championship TV Roku Snags Documentary on Philadelphia Eagles Super Bowl Win (Exclusive) "We're thrilled to join the Indycar ownership group at such a pivotal time for the sport," said Eric Shanks, CEO & executive producer of Fox Sports. "Indycar represents everything we value in live sports - passionate fans, iconic venues, elite competition, and year-round storytelling potential. This investment underscores our commitment to motorsports and our belief in Indycar's continued growth on and off the track. We're excited to help elevate the sport to new heights across all platforms." "This partnership is built on long-standing trust and a shared vision for the future," added Penske CEO Roger Penske. "Fox sees the incredible potential across our sport and wants to play an active role in building our growth trajectory. Lachlan Murdoch and his team, starting with Eric Shanks, are committed to our success and will bring incredible energy and innovation to Indycar." Penske Entertainment is a subsidiary of Penske Corp., the transportation services company run by Roger Penske. His son, Jay Penske, founded a separate media company, Penske Media, that owns The Hollywood Reporter, among other publications. THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up Kamala Harris Kamala Harris Unveils Simon & Schuster Deal With Book on 107-Day Campaign siriusxm SiriusXM Reports Drop to 33 Million Paid Subscribers, Strength in Podcasting versant Peacock Subscribers Stuck at 41 Million While Streamer's Losses Slim to $101 Million in Q2 Microsoft Microsoft Stock Jumps on AI, Cloud Strength in Latest Quarter Meta As Mark Zuckerberg Focuses on "Personal Superintelligence," Meta Smashes Quarterly Expectations technology On AI and Copyright, Trump Is Groveling Before Big Tech and Selling Out Working Americans Kamala Harris Kamala Harris Unveils Simon & Schuster Deal With Book on 107-Day Campaign siriusxm SiriusXM Reports Drop to 33 Million Paid Subscribers, Strength in Podcasting versant Peacock Subscribers Stuck at 41 Million While Streamer's Losses Slim to $101 Million in Q2 Microsoft Microsoft Stock Jumps on AI, Cloud Strength in Latest Quarter Meta As Mark Zuckerberg Focuses on "Personal Superintelligence," Meta Smashes Quarterly Expectations technology On AI and Copyright, Trump Is Groveling Before Big Tech and Selling Out Working Americans