Fox Buys One-Third Stake in IndyCar Series-Owner Penske

Fox Corp. acquired a one-third interest in Penske Entertainment, the owner of the IndyCar Series and Indianapolis Motor Speedway, the companies said Thursday. The deal also included a multi-year extension of IndyCar’s media rights with Fox Sports.

Deal terms were not disclosed, but the investment was between $125 million and $135 million, according to people familiar with the matter, who did not wish to be identified discussing sensitive information. The Wall Street Journal previously reported the deal size.