India, Nov. 2 -- People Incorporated (PPLI), the parent company of several digital and print media brands, reported a sharp increase in its third-quarter loss, primarily reflecting a significant unrealized loss on its investment in MGM Resorts International.
Third-quarter net loss attributable to shareholders of $687.5 million, or $9.15 per share, compared with a loss of $21.9 million, or $0.27 per share, in the year-ago quarter.
The wider loss primarily reflected a $1.12 billion unrealized loss on its investment in MGM Resorts International, compared with an unrealized gain of $17.5 million a year earlier.
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Revenue declined 3.6 percent to $430.8 million...