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Roger Penske Sells a Third of Indianapolis Motor Speedway and IndyCar to Fox
MARION COUNTY, INDIANA, JUL 31 – Fox Corp. is investing in Penske Entertainment to support Indycar's growth and has extended its media rights deal after the Indy 500 averaged over 7 million viewers, officials said.
- On Thursday morning, Fox Corp. announced it acquired a one-third stake in Penske Entertainment and extended its IndyCar media rights deal with Fox Sports.
- Fox Sports entered its first season broadcasting IndyCar after securing the TV deal from NBCUniversal earlier this year.
- Despite strong 500 ratings, nine of the 14 races failed to reach 800,000 viewers, even as this year's Indianapolis 500 averaged 7.01 million viewers, a 41% increase.
- Roger Penske said, "This partnership is built on long-standing trust and a shared vision for the future," and Shanks said in a release, "We're thrilled to join the IndyCar ownership group at such a pivotal time for the sport."
- Through at least 2029, Penske Entertainment expects the deal to deepen media rights, spearhead innovative racing events, a digital strategy, and star-building for drivers.
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87 Articles
87 Articles
Helena Independent Record+20 Reposted by 20 other sources
Penske sells a third of Indianapolis Motor Speedway and IndyCar to Fox
Penske Entertainment, the Roger Penske-owned entity that holds Indianapolis Motor Speedway and IndyCar among its assets, said Thursday it has sold one-third interest in the company to FOX.
·Helena, United States
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Associated Press News+33 Reposted by 33 other sources
Roger Penske sells a third of Indianapolis Motor Speedway and IndyCar to Fox
Penske Entertainment has sold a one-third interest in the company to Fox. The deal is described as a strategic investment to boost IndyCar's growth.
·United States
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Coverage Details
Total News Sources87
Leaning Left23Leaning Right3Center38Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 36%
C 59%
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