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.

Fox Corporation, the broadcast giant, has acquired one-third interest in Penske Entertainment, the owner of the IndyCar racing series and the Indianapolis Motor Speedway. Why it matters: It's unclear ...

Roger Penske was adamant for years that he was not interested in selling any part of Penske Entertainment. But now he has, and the new partnership with Fox could have a massive impact on the IndyCar ...