Recent Updates — PPLI

People Incorporated and MGM Resorts International have entered into an amendment to their existing Voting Agreement dated April 3, 2026. The amendment imposes a standstill provision limiting the aggregate beneficial ownership of People Inc., Barry Diller, and their affiliates (the Covered Entities) in MGM to 29.9% of outstanding common stock. Additionally, for non-change-of-control matters, the Covered Entities must vote any shares exceeding a 25.73% threshold in accordance with the majority vote of other shareholders. The agreement also restricts MGM from implementing defensive measures like poison pills while the Covered Entities remain in compliance. People Inc. operates in the digital media and technology sector.

People Incorporated reported Q2 2026 results with total revenue of $436.7 million, a 1% decline year-over-year, driven by a 6% increase in Digital revenue to $290 million offset by a 16% drop in Print revenue. The company posted an operating loss of $14.3 million and diluted earnings per share of $6.68, significantly boosted by a $721.7 million unrealized gain on its MGM Resorts International investment. Adjusted EBITDA rose 15% to $55.9 million. The Board authorized the repurchase of an additional 10 million shares, leaving 12.5 million remaining under the program. Additionally, People Inc. agreed to sell a limited partner stake in a third-party fund for approximately $189 million. Neil Vogel was appointed Chief Executive Officer and Timothy Quinn as Chief Financial Officer, effective August 5, 2026. The company operates in the digital media and information services industry.