Fox Sports, Speed land Formula One

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NEW YORK -- Fox Sports and Speed Channel said Monday that the networks will carry Formula One racing through 2009.

Financial terms of the deal were not disclosed, but the agreement includes four races broadcast on Fox Sports and the remainder on Speed Channel, a News Corp. subsidiary. There are 17 races in all, many shown live.

Beginning next year, Fox will have live coverage of the U.S. Grand Prix and the Canadian Grand Prix as well as tape of the British Grand Prix and the French Grand Prix. Fox will have its coverage in June and July.

Speed Channel will continue with 13 races -- many live -- from March 18's race in Australia through the Oct. 21 race in Brazil. Speed also will have GP2 Series racing and broadband rights.

The broadcast team will include Bob Varsha, analysts David Hobbs (a former Formula One driver) and Steve Matchett (a former mechanic) and pit/starting grid reporter Peter Windsor.
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