Barry Diller’s IAC to Change Name to ‘People Incorporated,’ Plans Layoffs to Consolidate Corporate Functions

Home Digital News Apr 28, 2026 5:51am PT Barry Diller’s IAC to Change Name to ‘People Incorporated,’ Plans to Lay Off 77 Staffers in Consolidation of Corporate Functions By Todd Spangler Plus Icon Todd Spangler NY Digital Editor xpangler Latest Barry Diller’s IAC to Change Name to ‘People Incorporated,’ Plans to Lay Off 77 Staffers in Consolidation of Corporate Functions 1 hour ago Spotify Q1 Revenue Rises 8%, Premium Subscribers Inch Up to 293 Million Amid U.S. Price Hikes 4 hours ago Paramount-Warner Bros. Discovery Will Be 38.5% Owned by Middle Eastern Funds Following Close: Filing 17 hours ago See All Stephen Lovekin/Getty Images for IMG More than two decades after Barry Diller established IAC (InterActiveCorp.) as a media holding company, he announced that it will change its name to “People Incorporated” by its Q2 earnings in August. The name change is “to reflect its focus on its People publishing business and its stake in MGM Resorts,” the company said. IAC’s Dotdash Meredith publishing unit in July 2025 had changed its name to People Inc. Now, that’s going to be the name of the entire enterprise. blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-variety-article-mid-article-uid0' ) .setTargeting( 'pos', ["mid-article1","mid-articleX","mid","mid-article"] ) .setTargeting( 'viewable', 'yes' ) .setSubAdUnitPath("ros\/mid-article") .addSize([[300,250],[2,2],[300,251],[2,4],[4,2],[320,480],[620,366]]) .setClsOptimization("minsize") ; }); Related Stories The Actor Awards Set Dates for 2027 and 2028 Ceremonies on Netflix Jenna Ortega Says She Almost Quit Acting Before Landing 'You' Role: '"It Was a Good Run" Sort of Thing' Current People Inc. CEO Neil Vogel and CFO Tim Quinn are expected to become CEO and CFO of the publicly traded entity, respectively, and they’ll also continue running the publishing business. Diller will remain chairman and senior executive and “continue advising the People business and overseeing the MGM stake,” the company said. Popular on Variety if ( !window.pmc.harmony?.isEventAdScheduledTime() ) { pmcCnx.cmd.push(function() { pmcCnx({ settings: { plugins: { pmcAtlasMG: { iabPlcmt: 2, } } }, playerId: 'fdaee7b3-292f-4a85-89bb-29a56b567de3', playlistId: '073c6e70-0010-4b87-92d0-d891f87f5cd8', }).render("connatix_contextual_player_div"); }); } else { // This should only be get called when page cache is not cleared and it's event time. window.pmc.harmony?.switchToHarmonyPlayer(); } With the name change, the company “has initiated a plan to consolidate its corporate functions with those of its People Inc. business” through a reduction in workforce, technology integrations and other cost-saving measures over the coming quarters, per an IAC filing with the SEC. The company is expected to generate annual run-rate cost savings of approximately $40 million and is anticipated to be completed by the first quarter of 2027. A company rep said 77 IAC roles are expected to be eliminated as the company is consolidating corporate functions in the transition to People Incorporated. The People business has 3,500 employees; the layoffs are equal to about 2% of the go-forward headcount, the rep said. In a letter to shareholders about the change, Diller wrote, “We’re transitioning the necessary staff of IAC into the corpus of People. That will significantly reduce our overhead as we concentrate on our two assets: People publishing and our holdings in MGM Resorts.” The new company’s ticker symbol on Nasdaq will…

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