MGM Resorts Weighs Takeover Bid for Barry Diller's People Inc.

Investing.com·24 Sep 2026·

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M&A · Partnership Corporate Action Price Action Hotels, Restaurants & Leisure

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Summary · why it matters

MGM Resorts International is weighing a potential takeover bid for Barry Diller's People Incorporated, according to The Wall Street Journal, just one day after People withdrew its own proposal to buy the casino giant. People Incorporated currently holds a roughly 27% stake in MGM worth approximately $2.5 billion, and the company commands a market capitalization of around $2.7 billion against MGM's $8.5 billion valuation. Analysts said the near-identical value of People's total market capitalization and its MGM stake points to a deep conglomerate discount, with equity markets assigning minimal value to People's publishing titles and secondary investments, which include People, Food & Wine, and Southern Living magazines, plus stakes in the Daily Beast and Turo. MGM shares fell nearly 11% in regular trading Thursday after People abandoned its go-private attempt, then stabilized after-hours with a modest 0.3% decline, while People stock surged 8.5% in extended trading. Diller had previously pursued a long-shot takeover of MGM in June that valued the gaming company at roughly $12.4 billion, but formally walked away on Wednesday, citing difficulty assembling an optimal partner group while saying People remains open to future strategic transactions with MGM.

MGM Resorts International ±

People Incorporated ▲

Impact on assets 4

Consumer Discretionary▲ · 2 stocks

MGM Resorts International

MGM

± MixedCapitalrelevance

MGM is considering a takeover of People Inc. one day after People withdrew its own bid for MGM, a mixed M&A development; MGM shares fell 11% after People abandoned its go-private attempt.