Billionaire Barry Diller Will Wants MGM Resorts For $18B, Report Says

BreakingBusinessBillionaire Barry Diller Will Wants MGM Resorts For $18B, Report SaysByMary Whitfill Roeloffs,Forbes Staff. Mary Roeloffs is a Forbes breaking news reporter covering pop culture.Follow AuthorJun 01, 2026, 09:28am EDTToplineBillionaire online media mogul Barry Diller is reportedly set to make a $48.30-per-share cash offer for MGM resorts through his company People Inc. in a deal that would value MGM at $18 million. The MGM Grand Hotel and Casino on Feb. 20, 2020 in Las Vegas, Nevada. Getty ImagesKey FactsShares Of MGM Resorts International spiked 15% in premarket Monday on the news, which broke in The New York Times. People, formerly IAC, already owns a 26.1% stake in the casino giant and holds two board seats, one of which is occupied by Diller, and the billionaire described MGM as an "extraordinary operation" in a letter to People shareholders in April. Diller, who has been building his stake in MGM since 2020, said the resort company represents a “perfect hedge in a world that is changing so unpredictively fast.”This is a developing story and will be updated. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defer', '1'); script.setAttribute('type', 'text/javascript'); iframeDoc.body.appendChild(script); }; document.head.appendChild(iframe); const preloadResourcesEndpoint = 'https://cds.elements.video/a/preload-resources-ovp.json'; fetch(preloadResourcesEndpoint, { priority: 'low' }) .then(response => { if (!response.ok) { throw new Error('Network response was not ok', preloadResourcesEndpoint); } return response.json(); }) .then(data => { const cssUrl = data.css; const cssUrlLink = document.createElement('link'); cssUrlL...