MGM and People Inc. merger talks terminated

On October 29, 2026, Skift Feed reported that merger talks between MGM Resorts and its largest shareholder, Barry Diller's People Inc., have ended. According to a filing submitted on Wednesday, MGM amended its voting agreement with People Inc., and People and its chairman Diller will vote all MGM shares they hold as recommended by the board. The report did not disclose the specific reason the talks were terminated, nor did it state when the merger talks began or their specific terms. On the same day, Hotel Dive Feed reported that MGM and People Inc. amended their existing voting agreement, after People Inc. had withdrawn its over $18 billion privatization acquisition proposal for MGM; that report also mentioned that MGM announced third-quarter results. The current status is that the two parties have amended their voting agreement, and People Inc. has withdrawn its privatization acquisition proposal.