People Co., Ltd.

MGM Resorts International, which operates casino hotels and other properties in Las Vegas, is considering a takeover offer for the U.S. media company People, The Wall Street Journal reported on the 24th. People, led by U.S. billionaire Barry Diller, had just withdrawn its own acquisition proposal for MGM Resorts the previous day, and People's shares rose 9% in after-hours trading. According to the Journal, citing people familiar with the matter, MGM could make an offer within days if it decides to move ahead with the acquisition process. People is MGM's largest shareholder, holding roughly 27% of its stock, and the value of that stake is nearly equal to People's own market capitalization. If a deal is completed, it would be an unusual move in which MGM seeks to acquire its longtime largest shareholder. People is a holding company engaged in the digital media business, owning brands such as People, Food & Wine, Southern Living, and The Daily Beast, and its second-quarter earnings showed improving profitability in its publishing business.

People announced its financial results for the second quarter of the fiscal year ending January 2027 (cumulative February to July), with net sales of 561 million yen and an ordinary loss of 113 million yen, narrowing the loss from the 176 million yen deficit in the same period last year.