Barry Diller Moves to Take Over MGM Resorts in $18 Billion Deal

Barry Diller’s media company, People Inc, said Monday it is preparing a bid to take full control of MGM Resorts in a deal valuing the casino giant at more than $18 billion.

Diller’s company already owns 26.1% of MGM, plus two board seats (Diller holds one). So, even without a formal bid, People Inc’s existing stake gives it a blocking position against rival suitors. 

MGM Resorts controls