All articles tagged with #barry diller
MGM CEO Bill Hornbuckle has left open the possibility that his company could acquire Barry Diller's People Inc., reversing the dynamic after Diller's failed $18 billion bid to take MGM private. This comes as Caesars Entertainment prepares to go private and Wynn Resorts expands into the UAE.
Barry Diller's People Inc. has withdrawn its June proposal to acquire the remaining public shares of MGM Resorts International for $48.30 per share, valuing the total deal at approximately $18 billion. The media conglomerate, which already holds a 26.1% stake in the casino giant, cited the failure to align necessary financial and strategic components as the reason for the withdrawal. Despite the collapse of the takeover, Diller stated he remains open to future strategic transactions, while MGM Resorts' board confirmed it will continue operating as a standalone entity.
Barry Diller’s People Inc has withdrawn its $18 billion proposal to acquire the remaining shares of MGM Resorts International. The media mogul cited a failure to align the necessary financial and strategic components for the deal, though he retains a 27% stake in the casino giant. MGM Resorts’ board confirmed it will continue operating as a standalone entity, citing strong performance in its Las Vegas properties and international expansion.
Barry Diller’s People Incorporated has made a non-binding offer to acquire MGM Resorts International for about $18 billion (including debt), a bid that could reshape Las Vegas ownership after Tilman Fertitta’s Caesars deal; MGM’s board will review the proposal, which values shares at $48.30 and includes debt, with financing and regulatory hurdles ahead.
Barry Diller’s People Incorporated plans to buy MGM Resorts for about $18 billion, offering $48.30 per share for the remaining 24.9% stake; if the deal closes, People would own just over 50% and become the controlling shareholder while MGM’s current management would stay in place.
Barry Diller's People Inc. has offered to acquire MGM Resorts for more than $18 billion, proposing $48.30 per share in cash and signaling a move to privatize the Las Vegas operator after owning 26.1% of its stock; the deal would be financed with cash on hand plus debt and equity, and MGM's properties like the Bellagio and Luxor would become privately held if the transaction closes. Diller also noted that AI cannot easily replace the real-world experiences MGM offers; MGM did not immediately comment.
A media company has reportedly offered an $18 billion takeover bid for MGM Resorts, signaling a potential sale of the Las Vegas-based casino operator.
Barry Diller’s People Inc. has proposed an all-cash purchase of MGM Resorts for more than $18 billion, offering $48.30 per share and about a 10.6% premium to MGM’s prior close. People already owns roughly 26.1% of MGM, and the bid signals a strategic shift from digital media to hospitality and travel, with MGM’s Las Vegas properties, Macau, and BetMGM digital arm central to the value. The move follows a wave of casino M&A activity, including Tilman Fertitta’s Caesars deal.
Barry Diller told The Wall Street Journal's Future of Everything Festival he’d buy CNN 'tonight and tomorrow night' to save it, arguing the network is ripe for innovation but needs more investment in on-air programming; CNN is owned by Warner Bros. Discovery, with Paramount's $81 billion merger in play, and Diller warned the deal could trigger savage cuts—echoing his own company's restructuring as IAC renames to People Inc. and slashes staff to save costs.
Barry Diller told the WSJ at the Future of Everything summit that he would buy CNN tonight if the opportunity arose, arguing the network is ripe for innovation but would face a savage cost‑cutting process under Paramount’s deal with Warner Bros. Discovery; he also said he looked very deeply at Vox Media, which is in talks with James Murdoch’s Lupa Systems, and noted his upcoming rebranding of IAC as People Incorporated.
Scott Rudin is returning to Broadway with a new play, 'Little Bear Ridge Road,' produced in collaboration with Barry Diller, starring Laurie Metcalf, after a period of stepping back due to past allegations of abusive behavior. The play is set for an October 7 opening at the Booth Theatre and marks Rudin's formal return to the industry.
Barry Diller revealed that the filming of the 1980 movie 'Popeye' was extremely chaotic and drug-fueled, with claims that the set was 'coked-up' and involved drug shipments via film cans, making it one of the most chaotic film sets he has experienced.
Robin Williams' 1980 film 'Popeye' was reportedly made on a heavily drug-affected set, with Barry Diller describing it as the 'most coked-up' film set he's visited, where everyone was allegedly stoned and film cans were used to ship cocaine.
Barry Diller, chairman of IAC, has criticized Trump Media and Technology Group, calling it "a scam" and its shareholders "dopes" for buying shares. He pointed to the company's low revenue and doubts its potential for growth, questioning the excitement around it. Diller likened the surge in Truth Social's owner to the frenzy around "meme stocks" and expressed skepticism about its future prospects, particularly due to its minimal revenue and the limited appeal of its main figure, Donald Trump.
Barry Diller, chairman of IAC and Expedia, criticized Trump Media as "a scam" with no revenue, calling people buying its stock "dopes." Despite a $6.4 billion market capitalization, the company had just $4.1 million in revenue last year and reported net losses of $58 million in 2023. Diller compared the stock's price run-up to the "meme stock" frenzy of 2021 and expressed skepticism about its future growth, stating that it is only interesting now because of Trump's entertainment value.