Merger increases ISC track ownership

Monday, July 26, 1999 – International Speedway Corp. completed its merger with Penske Motorsports Inc., increasing ownership for the Daytona Beach, Fla.-based company to 10 race tracks across the country. The merger moved PMI tracks in Brooklyn, Mich., Nazareth, Pa., Fontana, Calif., and Rockingham, N.C. under the ISC umbrella.

As part of the move Roger Penske, founder of PMI, was named vice chairman of ISC’s board of directors.

Greg Penske, PMI president and chief executive officer, was named to oversee management of the acquired tracks for ISC.

ISC also increased its ownership stake in Homestead-Miami Speedway to 90 percent.

Prior to the move, ISC owned tracks in Daytona Beach, Fla., Talladega, Ala., Avondale, Ariz., Tucson, Ariz., Darlington, S.C., and Watkins Glen, N.Y.

ISC originated in 1957 as Daytona International Speedway Corp. It was formed by NASCAR founder and president William H.G. France.

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