IAC said it will change its corporate name to People Incorporated by the time of its second-quarter earnings report in August, marking another step in a long restructuring that has already produced 11 public spinouts over three decades.
Barry Diller said the company’s evolution has generated more than $144 billion of value at peak equity prices. He framed the new name around two remaining core assets: People Inc. publishing and IAC’s stake in MGM Resorts International.
The publishing business has become the company’s main operating focus. Diller said the first quarter of 2026 was its 10th straight quarter of digital revenue growth. He also said the business now has 3,500 employees, covers 40+ brands, publishes six print titles, and ships 250 million magazines a year.
The company said its digital audience has been expanding across social channels, Apple News and live events. It also said it has developed an AI ad-targeting product called d/cipher and now has 19 separate initiatives outside the traditional publishing model.
On MGM, Diller said IAC’s original 12% stake has grown to 26%. He highlighted MGM’s ownership of 40% of the Las Vegas Strip, its position in Macau, and its planned resort project in Japan. He also said MGM’s digital businesses are growing profitably.
Diller said the company is reducing overhead by moving staff from IAC into People, while concentrating on the two businesses in front of it. The market has reacted to these announcements by moving the company's shares 1.21% to a price of $44.48. For more information, read the company's full 8-K submission here.
