Fox Corporation Acquires One-Third Interest in Penske Entertainment

Strategic Investment and Partnership Launches New Era of Growth Across INDYCAR that Includes a Multiyear Extension of INDYCAR’s Media Rights with FOX Sports

Penske Entertainment and Fox Corporation (“FOX” or the “Company”) (Nasdaq: FOXA, FOX), the parent company of FOX Sports, announced July 31 an investment in the future of North America’s premier open-wheel racing series, with FOX’s acquisition of a one-third interest in Penske Entertainment, inclusive of INDYCAR and the iconic Indianapolis Motor Speedway.

The investment is expected to supercharge a new era of growth for the NTT INDYCAR SERIES, the most competitive and dynamic motorsport on the planet. This includes:

• Innovative and industry-leading racing and entertainment events
• A hyper-engaged digital strategy and immersive content focus
• Enhanced promotion and star-building opportunities for NTT INDYCAR SERIES drivers

Today’s announcement also includes a multiyear extension of INDYCAR’s media rights with FOX Sports.

“This partnership is built on long-standing trust and a shared vision for the future,” Roger Penske said. “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.”

FOX Sports acquired INDYCAR’s media rights in 2025, bringing fresh promotional resources and significantly larger reach to the NTT INDYCAR SERIES. This year’s Indianapolis 500 on FOX averaged 7.01 million viewers, a 41 percent increase over the previous edition and a 17-year high. So far, the 2025 NTT INDYCAR SERIES season is averaging a 31 percent increase in viewership year-over-year.

“We’re thrilled to join the INDYCAR ownership group at such a pivotal time for the sport,” said Eric Shanks, CEO & executive producer, 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 news builds on wider momentum across the sport, marked by rising attendance and record crowds at several events this year, including a sell-out of the Indy 500. INDYCAR has invested heavily in digital growth recently, launching a new mobile app, website and fantasy platform while also generating 1 million new social followers. The series will also add a new showcase to its calendar in 2026, racing through Arlington’s entertainment district through a first-of-its-kind joint venture with the Dallas Cowboys and Texas Rangers. 

The NTT INDYCAR SERIES is the only premier motorsport in North America with every race on U.S. network television. It features an international field of the world’s most versatile drivers who compete on superspeedways, short ovals, street circuits and permanent road courses. The 2025 season continues with the Grand Prix of Portland at 3 p.m. ET Sunday, Aug. 10 on FOX.

Also, part of the Penske Entertainment family, the world-famous Indianapolis Motor Speedway is annually home to the largest single-day spectator sporting event on the planet, the Indianapolis 500. This year’s “The Greatest Spectacle in Racing” featured a crowd of more than 300,000 people. The famed venue is steeped on more than a century of racing heritage and has the largest seating capacity of any sporting venue across the globe.