BREAKINGVIEWS — Media mogul's MGM retreat dodges risky China wager

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Katrina Hamlin HONG KONG, Sept 24 (Reuters Breakingviews) — Barry Diller's offer to take private casino giant MGM Resorts, valuing it at $18 bln, would have left his group, People, more exposed to China. Weak results from MGM's Macau unit and Beijing's intensifying crackdown on cross-border outflows make his decision to fold sensible. Full view will be published shortly. Follow Katrina Hamlin on Bluesky and Linkedin. Context News Media group People has withdrawn its proposal to purchase all the outstanding shares of casino operator MGM Resorts International that it doesn't already own, according to announcements from both companies on September 23. Barry Diller, People chair, said his company remains interested in a possible strategic transaction with MGM and looked forward to considering a range of alternatives. People retains its existing 27% stake in MGM Resorts. Shares in MGM Resorts closed down 2.7% to $37.85 on September 23. In after-hours trading, the decline in MGM Resorts extended to nearly 11%, while People rose nearly 4%. (Editing by Una Galani; Production by Ujjaini Dutta) ((For pr