Fox buys stake in IndyCar owner Penske Entertainment - WSJ

Fox Corp. (NASDAQ:FOXA) purchased a one-third stake in Penske Entertainment, owner of auto racing's IndyCar Series and Indianapolis Motor Speedway.

Terms of the detail weren't given, though Fox's (NASDAQ:FOXA) investment is said to be between $125 million and $135 million, according to a WSJ report  on Thursday, which cited people familiar with the matter.

Under the agreement, Fox's (FOXA) media-rights for IndyCar races have been extended for several years, the companies said. Fox began carrying IndyCar earlier this year.