Fox Corp. feels the need for more speed.
The media company announced that it acquired a one-third interest in Penske Entertainment, which owns the Indianapolis Motor Speedway, the NTT IndyCar open-wheel racing series and IMS Productions. The deal includes a multiyear extension of Fox Sports‘ media rights for IndyCar.
Financial terms weren’t disclosed. The investment will “supercharge a new era of growth for the NTT IndyCar Series, the most competitive and dynamic motorsport on the planet,” Fox Sports said in announcing the deal.
Fox Sports acquired IndyCar’s media rights earlier this year. This year’s Indianapolis 500 on Fox averaged 7.01 million viewers, a 41% increase over the previous edition — and a 17-year high. Year to date, the 2025 NTT IndyCar season is averaging a 31% increase in viewership year-over-year.
“This partnership is built on long-standing trust and a shared vision for the future,” Roger Penske, founder and chairman of Penske Corp. and a former professional race car driver, said in a statement. “Fox sees the incredible potential across our sport and wants to play an active role in building our growth trajectory. [Fox Corp. CEO] Lachlan Murdoch and his team, starting with [Fox Sports CEO] Eric Shanks, are committed to our success and will bring incredible energy and innovation to IndyCar.”
Fox Sports’ Shanks said, “We’re thrilled to join the IndyCar ownership group at such a pivotal time for the sport. IndyCar represents everything we value in live sports — passionate fans, iconic venues, elite competition, and year-round storytelling potential.”
The NTT IndyCar Series is the only major motorsport series in North America with every race airing on U.S. network television. It features an international field of drivers who compete on superspeedways, short ovals, street circuits and permanent road courses. The 2025 season continues with the Grand Prix of Portland on Sunday, Aug. 10, at 3 p.m. ET on Fox.
Penske Entertainment’s Indianapolis Motor Speedway is annually home to the largest single-day spectator sporting event on the planet, the Indianapolis 500. This year’s event featured a crowd of more than 300,000 people. The venue also has hosted Nascar, Formula One and other racing series events in its history.
Penske Entertainment is a separate company from Penske Media Corp. (PMC), the owner of Variety. PMC CEO Jay Penske is the son of Roger Penske.
