IAC is changing its corporate name to People Incorporated, following a period of opportunistic behavior. The company, which began as Silver King Communications in 1995, now owns and operates over 200 companies and oversees over 100 minority investments. Over the past three decades, IAC has created over $144 billion of value at peak equity prices through its unique business model. Diller also accumulated shares in MGM Resorts, an entertainment nucleus that cannot be replicated anywhere in the world. His original 12% stake in MGM has grown to 26%. The company's major remaining operating business is now its publishing operations. They have succeeded by leveraging their knowledge and experience from across IAC’s digital businesses and applying them to new business models.