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. The sale was described as a strategic investment and partnership designed to launch new growth for IndyCar and it includes a multi-year contract extension for

Fox Corp. has acquired a one-third interest in Penske Entertainment, which owns the Indianapolis Motor Speedway and the NTT IndyCar open-wheel racing series. The deal includes a multiyear extension of Fox Sports’ media rights for IndyCar.