MGM Resorts shares tumble 10% after Diller's People withdraws $18 billion bid

Shares of MGM Resorts fell significantly after the withdrawal of an $18 billion buyout offer from People Inc. According to Barry Diller, the proposed buy was not developing as anticipated. The deal was aimed at expanding People Inc's operations beyond traditional media ventures. MGM owns significant assets on the Las Vegas Strip, but its growth has been inconsistent recently.