Fox Corp. has acquired one-third of Penske Entertainment, owner of auto racing’s IndyCar Series and Indianapolis Motor Speedway, the companies said Thursday. Terms of the deal weren’t disclosed, but people familiar with the transaction valued Fox’s investment at between $125 million and $135 million.

Fox Corp. acquired a one-third interest in 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.

Fox Corporation and Penske Entertainment announced that FOX has acquired a one-third interest in Penske Entertainment.