Fox buys a stake in part of Roger Penske’s racing empire…
VRCG, Inc. is proud of this Michigan-based EXCELLENT company, and we are proud to do business with Penske Dealerships:
From Crain’s Detroit Business, August 1, 2025:
Fox Corp. acquired a one-third interest in Bloomfield Hills-based 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.
“Fox sees the incredible potential across our sport and wants to play an active role in building our growth trajectory,” Roger Penske, founder and chairman of Penske Corp., parent company of Penske Entertainment, said in a statement.
Fox Sports acquired IndyCar’s media rights for the current season, with the sport previously airing on Comcast Corp.’s NBC. The companies said that the Indianapolis 500 race averaged 7 million viewers on Fox, a 41% increase from the previous year and a 17-year high.
Penske Entertainment also owns IMS Productions, a video services and production company.
Penske Entertainment acquired the Indianapolis Motor Speedway, the IndyCar Series and all of its properties in 2019. Last November, Penske bought the Grand Prix of Long Beach, a prestigious street race. Also last fall, the company announced a joint venture with the Dallas Cowboys and Texas Rangers on the Grand Prix of Arlington.
Penske Entertainment’s parent company, Penske Corp., based in Bloomfield Hills, has subsidiaries operating in various industry segments, including retail automotive, truck leasing, transportation logistics and professional motorsports. It is the largest privately owned company in Southeast Michigan, with $44 billion in revenue in 2024, according to data compiled by Crain’s Detroit Business. Some of its subsidiaries, including Penske Automotive Group, are public entities in which Penske Corp. is the majority shareholder.
