ABC Leads College Football Overnights Suzy Whaley Elected PGA Secretary Plank Discusses His Relationship With Alma Mater Goodell Won't Hear Peterson Appeal Saints' Benson Gives $11M To Pro Football HOF Bills Plan To Practice, Play In Buffalo This Week Cowboys-Giants Rating Lower On NBC Patriots' Nike Shoe Goes On Sale Monday Classified Advertisements 2014 Reader Survey: About The Industry
FL-based International Speedway Corp. (ISC) and MI- based Penske Motorsports Inc. "are selling their stakes" in CA-based Grand Prix Association of Long Beach (GPA), which runs the country's second-biggest Indy car race, according to Todd Pack of the ORLANDO SENTINEL. ISC said it sold its 340,000 common shares of GPA to Dover Downs Entertainment Inc. for $15.50 a share, after buying them last summer for about $12.50 a share, giving ISC about a $1M profit. Penske, which is also selling to Dover, said that it "would make the same profit on the deal." Dover owns racetracks in Delaware and Nashville, and ISC Dir of Investor Relations Wes Harris said that the company "will probably speed up GPA's growth" (ORLANDO SENTINEL, 3/28). GPA Chair & CEO Chris Pook will keep his positions and join Dover's board of directors (ST. LOUIS POST-DISPATCH, 3/28).