Fox Cable Networks is close to finalizing a multiyear agreement to acquire
Championship Auto Racing Teams open-wheel events beginning in 2002.
The events would air on Fox's auto-racing network, Speedvision.
A Fox Sports spokesman said the company is in 'very serious discussions' with
CART in an effort to reach a distribution agreement. 'We expect an announcement
shortly,' he added.
Fox would acquire the programming package from ESPN, which has distributed
CART races since 1992. An ESPN spokesman said the network passed on the CART
package to concentrate on competing circuit the Indy Racing League.
'We're putting our resources behind one circuit, which we feel will lead to
greater growth potential,' the ESPN spokesman added.