00:00Barry Diller's media and entertainment venture, People Holdings, has offered to acquire MGM Resorts International for $48.30 per share,
00:09and a surprise move that could reshape the casino and hospitality industry.
00:14The proposal values MGM at roughly $24 billion and would combine one of Las Vegas' biggest operators with Diller's growing
00:23portfolio of entertainment and digital assets.
00:25MGM shares surged following the report as investors weighed the likelihood of a bidding war or improved offer.
00:33Analysts say the deal could create a powerful hybrid company spanning casinos, sports betting, live entertainment and streaming content.
Comments