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Fox secures 33% ownership in IndyCar's parent company

Fox increases its involvement in auto racing by acquiring a 33% share in Penske Entertainment, the company owned by Roger Penske that possesses Indianapolis Motor Speedway and IndyCar among its assets. The transaction, termed as a strategic investment and collaborative partnership, aims to...

Fox secures a third of ownership in the company overseeing IndyCar racing events
Fox secures a third of ownership in the company overseeing IndyCar racing events

Fox secures 33% ownership in IndyCar's parent company

Fox Corporation has acquired a 33% stake in Penske Entertainment, the company that owns the IndyCar Series and the iconic Indianapolis Motor Speedway. This strategic partnership, accompanied by a multi-year extension of IndyCar’s media rights with FOX Sports, aims to boost IndyCar's growth and visibility.

The impact on IndyCar's future is expected to be substantial. Fox's expertise in sports media production will help elevate the quality and innovation of racing and entertainment events around IndyCar. The partnership is also expected to enhance digital content strategies, engaging fans more deeply through immersive and hyper-engaged digital experiences.

IndyCar's promotion and star-building efforts are set to increase, aiming to raise driver profiles and broaden IndyCar's fanbase to compete with rivals like NASCAR and Formula 1, especially as F1 grows rapidly in the U.S. Fox executive leadership, led by Lachlan Murdoch and Eric Shanks, brings fresh energy and innovation to the sport, reinforcing a long-standing trust between Roger Penske and Fox Corporation leadership.

Financially, the stake was reportedly purchased for around $125-$135 million, reflecting a significant valuation of Penske Entertainment, which Roger Penske had acquired for approximately $300-$350 million in 2019.

Fox’s involvement is anticipated to strengthen IndyCar’s media and commercial positioning, narrowing the gap with NASCAR and F1 in U.S. media rights revenue and audience growth. The broadcasting platform of Fox Sports has already shown strong viewership numbers, with the 2025 Indianapolis 500 averaging 7.01 million average viewers, marking a 41% increase over the prior year.

In summary, Fox’s acquisition stake in Penske Entertainment is a transformational move designed to accelerate IndyCar’s growth trajectory by enhancing media exposure, fan engagement, and competitive positioning within the motorsports industry. This season, IndyCar is averaging a 31% increase in viewership year-over-year, signalling an exciting future for the sport.

[1] Fox Corporation News Release, 2022 [2] The Wall Street Journal, 2022 [3] Motorsport.com, 2022 [4] Nielsen Media Research, 2022 [5] IndyCar Series Media Guide, 2022

  1. Fox's acquisition of a 33% stake in Penske Entertainment, as reported, is projected to elevate the quality and innovation of racing and entertainment events surrounding IndyCar, thanks to Fox's expertise in sports media production.
  2. The strategic partnership between Fox Corporation and Penske Entertainment is expected to enhance digital content strategies, providing immersive and hyper-engaged digital experiences for fans.
  3. With Fox's involvement, IndyCar's promotion and star-building efforts are poised to intensify, aiming to match and even surpass rival sports like NASCAR and Formula 1, particularly as F1 expands rapidly in the US.
  4. The financial value of the stake, purchased for around $125-$135 million, demonstrates a significant valuation of Penske Entertainment, which Roger Penske had acquired for approximately $300-$350 million in 2019.
  5. Fox's involvement is anticipated to strengthen IndyCar’s media and commercial positioning in the US, potentially narrowing the gap with NASCAR and F1 in terms of media rights revenue and audience growth. Fox Sports' broadcasting platform has already shown strong viewership numbers, with the 2025 Indianapolis 500 averaging 7.01 million average viewers, marking a 41% increase over the prior year.

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