Focusing in on the casino operator is a sharp departure from media for Diller at a time when markets remain volatile
Media mogul Barry Diller’s People Inc said on Monday it has proposed to buy MGM Resorts, valuing the casino operator at more than $18bn.
The offer comes just weeks after Diller, the digital media company’s chair, told shareholders in a 28 April letter that People would sharpen its focus on its MGM stake, calling the stock “wildly undervalued”.
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This article was originally published by The Guardian and written by Reuters.
Read original article on The Guardian