by Lacey Pfalz
Last updated: 8:30 AM ET, Mon July 13, 2026
MGM Resorts International has formed a special committee to examine The People Inc.'s $18 billion offer to purchase the resort and casino company, spearheaded by media mogul Barry Diller.
According to the Northeast Times, a Philadelphia-based paper, and The Wall Street Journal, anonymous sources told journalists about the committee, with the news spiking shares in after-hours trading to $48.40, ten cents higher than Diller’s proposal to buy out the rest of the company’s shares at $48.30, or roughly $18 billion.
The initial offer was made in early June. Diller and The People Inc., which manages media like PEOPLE Magazine, own 26% of MGM Resorts International, making them the resort and casino brand’s largest shareholder.
Diller told Reuters back in April that MGM Resorts International was “wildly undervalued.” The hotel and casino company owns approximately 40% of the hotels, resorts and casinos on the Las Vegas Strip. It has expanded into destinations as far as Asia, where performance in recent years has outperformed that of Las Vegas.
It is unclear when a decision will be made public.
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