Barry Diller's media holding company, IAC (InterActiveCorp), plans to change its name to ‘People Incorporated’ to reflect its focus on its People publishing business and its stake in MGM Resorts. The move is part of a plan to consolidate corporate functions with those of its People Inc. business through a reduction in workforce, technology integration, and other cost-saving measures. The company expects to generate annual run-rate cost savings of approximately $40 million and is expected to be completed by the first quarter of 2027. Current IAC CEOs, Neil Vogel and CFO Tim Quinn, are expected to become CEO and CEO respectively and continue running the publishing business. Diller will remain chairman and senior executive and continue advising the People business and overseeing the MGM stake.