People Inc. Targets MGM Deal, Buybacks as It Seeks Sales of Non-Core Assets
Market Beat·
- People Incorporated Common Stock is focusing capital allocation on its MGM minority stake and People media business while seeking to monetize non-core assets such as Vivian Health and The Daily Beast.
- The company submitted an offer on June 1 to acquire the remaining MGM stake and is adapting its digital strategy to offset declining referral traffic from Google Search through AI licensing and direct-to-consumer initiatives.
- Management expects digital EBITDA margin expansion of 30% to 40% for the full year and anticipates ongoing revenue growth driven by strong performance marketing and licensing agreements.