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 has purchased a one-third interest in Penske Entertainment inclusive of Indycar and the iconic Indianapolis Motor Speedway. Financial details weren’t disclosed. The move builds on a Fox Sports rights deal from this year,

The media company will acquire one third of the company, which owns Indycar and the Indianapolis Motor Speedway, while extending its media rights deal.