All articles tagged with #barry diller
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.
Barry Diller, chairman of IAC and Expedia, predicts that companies will adopt a standard of four days in the office with a flexible Friday option, citing the chaos caused by the multitude of work-from-home and in-person combinations. He emphasizes the need for standardization and believes that a transition to this model is sensible. Other investors, such as Mets owner Steve Cohen, also advocate for a more flexible working norm, with Cohen suggesting that the growth of artificial intelligence could lead to a shortened four-day work week.
Investor Josh Kushner and his wife, Karlie Kloss, have acquired the rights to revive Life Magazine as a regular print publication from Dotdash Meredith, with the support of Barry Diller's media company. The iconic photography-focused magazine, which has taken on various forms over the years, will be brought back to life through a deal facilitated by Kloss's media startup, Bedford Media. The move aims to resurrect the magazine in print and online, as well as through events and collaborations with brands and major studios, after its decline in popularity since the 1970s.
Media mogul Barry Diller criticized the Writers Guild of America's tentative labor deal with Hollywood studios, calling for a redefinition of fair use to protect published material from being captured in artificial intelligence (AI) knowledge-bases. Diller argued that AI's indexing of entire bodies of work violates fair use and undermines copyright law. His remarks followed lawsuits by prominent authors against OpenAI for copyright infringement. Diller also disagreed with OpenAI CEO Sam Altman on fair use, stating that taking all of a publisher's work is not permissible. The details of the WGA's agreement with studios have not been made public, but it is expected to grant studios the right to use and train AI models using writers' work while ensuring compensation for writers.