Barry Diller‘s sprawling conglomerate IAC is changing its name to People Incorporated and sharpening its focus on its People Inc. publishing business as well as its investment in MGM Resorts International.
“Our major continuing operating business is now our publishing operations,” the media mogul wrote in a a letter to shareholders on Tuesday.
“We are unlike most publishers in that we began as a native digital publisher and spent a decade developing the expertise to grow into a thriving digital business anchored online. We were leaning into digital publishing with all our might when our competitors were downsizing their operations because of that digital disruption. In late 2021, we then acquired Meredith. The earlier combination of Meredith and Time Inc. boasted 30+ brands such as the iconic People, Food + Wine, Southern Living, and Travel & Leisure, all of which had incredible heritage but lacked digital reach. We
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