FOX acquires interest in Penske Entertainment, IndyCar

INDIANAPOLIS – FOX acquired a one-third interest in Penske Entertainment, which includes IndyCar and the Indianapolis Motor Speedway.

FOX Corporation and Penske announced the deal Thursday. The agreement comes after FOX acquired IndyCar’s media rights. Thursday’s announcement includes a multi-year extension of the media rights deal.

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

Both companies said the agreement would “supercharge a new era of growth” for IndyCar. Plans call for:

• 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

FOX Sports debuted its coverage of IndyCar during the 2025 season. This year’s Indianapolis 500, the series’ crown jewel race, averaged 7.01 million viewers, a 41% increase over the previous year and a 17-year high.

The IndyCar season is averaging a 31% increase in viewership year-over-year, the network said.

“We’re thrilled to join the IndyCar ownership group at such a pivotal time for the sport,” said Eric Shanks, CEO & executive producer for 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.”

FOX has backed IndyCar with an extensive media campaign across traditional and digital platforms. Those efforts have led to increased attendance and social media following, the companies said.

“Not just a broadcast partner, but a true partner invested in growing the sport!” IMS President Doug Boles wrote on social media. “Hop on and hang on!”

The NTT IndyCar Series is the only premier motorsport in North America to have every race air on network television in the U.S. The next race, the Grand Prix of Portland, is set for Sunday, Aug. 10.