IMS, IndyCar Series to Sell to Penske
Hulman & Co. in Indianapolis has announced plans to sell the company to Penske Entertainment Corp. Financial terms of the deal have not been disclosed, however the sale also includes Hulman subsidiaries the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions.
Penske Entertainment Corp is a subsidiary of Penske Corp., which is owned by Chief Executive Officer Roger Penske, whose Team Penske has notched 18 Indianapolis 500 victories. A news conference featuring Penske, Hulman Chairman Tony George and Hulman CEO Mark Miles is scheduled for 11 a.m. Monday.
Our partners at WISH-TV will have the entire press conference on their website. Inside INdiana Business will have more on this story in this afternoon's INside Edge e-newsletter.