Penske Purchases IMS

Hulman & Company—the group that runs the Indianapolis Motor Speedway and the NTT IndyCar Series—have announced the sale of the company and some subsidiaries to Penske Corporation. The Board of Directors for Hulman & Company said the sale involves the company and certain subsidiaries, including the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions, to Penske Entertainment Corp., a subsidiary of Penske Corporation.