#mgmresorts

US Top News and Analysis | Barry Diller's People offers to buy casino giant MGM Resorts for $48.30 per share AI generated summary, Read the full article for complete information. Barry Diller’s company, People Inc. (formerly IAC), has submitted a cash offer to acquire casino operator MGM Resorts International at $48.30 per share, valuing the deal at roughly $18 billion. People, which already owns about 26 % of MGM, says it sees MGM’s tangible assets and digital growth potential as undervalued and believes the partnership can unlock further value, praising the resort’s management team. Diller, a current MGM board member, will recuse himself from any board decisions related to the transaction. Following the announcement, MGM’s shares rose about 15 % in midday trading, while People’s stock gained roughly 2 %. Read more: https://www.cnbc.com/2026/06/01/mgm-resorts-barry-diller-people-bid.html #BarryDiller #PeopleInc #IAC #MGMResorts #CNBC #AndrewRossSorkin

Variety | Barry Diller’s IAC to Change Name to ‘People Incorporated,’ Plans to Lay Off 77 Staffers in Consolidation of Corporate Functions by Todd Spangler AI generated summary, Read the full article for complete information. Barry Diller announced that IAC (InterActiveCorp.) will rebrand as “People Incorporated” by its Q2 earnings in August, a change meant to highlight the company’s focus on its People publishing business and its growing stake in MGM Resorts; the move will consolidate corporate functions, eliminate 77 positions (about 2% of the workforce), integrate technology, and is projected to save roughly $40 million annually, with the new Nasdaq ticker “PPLI.” Current People Inc. CEO Neil Vogel and CFO Tim Quinn will assume the same roles for the combined entity, while Diller remains chairman and senior executive overseeing the People assets and MGM investment. The reorganization follows a decade‑long shift toward digital publishing—beginning with the 2025 renaming of the Dotdash Meredith unit to People Inc., the 2021 acquisition of Meredith, and the accumulation of a 26% stake in MGM—alongside a history of spinning off more than a dozen former IAC businesses. Today the company’s portfolio includes over 40 brands such as People, Food + Wine, Southern Living, and Entertainment Weekly, and it aims to leverage its digital expertise, AI ad‑targeting, and new “INVERSION” initiatives to drive growth while maintaining a leaner, publishing‑centric operation. Read more: https://variety.com/2026/digital/news/barry-diller-iac-name-people-incorporated-layoffs-1236732057/ #BarryDiller #IAC #PeopleIncorporated #MGMResorts #Meredith #NeilVogel #TimQuinn