Barry Diller withdraws bid for MGM Resorts: mix was not right

People Inc., controlled by Barry Diller, is withdrawing from its planned acquisition of MGM Resorts International. People Inc. — formerly known as IAC — holds about 27 percent of MGM Resorts shares and filed a formal offer to buy all remaining stakes in June. Diller explained the decision with the words: "we didn't feel the mix was working".