Being on the guest list doesnt mean that a person will actually appear at the Alpine Idyll Jerry Seinfeld was invited one year, but didnt show. Discovery. Not that such added intrigue was necessary given that Musk had tweeted in May that the Twitter deal was temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5 percent of users. The social media powerhouse had reported 229 million users who were served advertising in the first quarter, which would mean 5 percent of those users would amount to 11.45 million. If the job market sours and wages constrict, look for Joe and Jane Public to shed some streaming services and go to the movies even less than they already do. 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OLeary Named CEO and President of National Association of Theatre Owners, Dead by Daylight Horror Movie Coming From Blumhouse, Atomic Monster and Behaviour Interactive (EXCLUSIVE), Will Hollywood Hit Cannes? The Hollywood Reporter is a part of Penske Media Corporation. While the topics to be discussed at the conference are not disclosed to the public, some guesses for what might be on the table can be made based on the guest list, Gura says. Lakeland Headquarters 1401 South Florida Avenue Lakeland, FL 33803 Toll Free: 1 (800) 950-2526 Phone: (863) 688-9000 Fax: (863) 616-6354 Michael Walker Matt Borud, Marketing and Innovation Administrator for the Idaho Department of Commerce says the exposure and attention have positive impacts for tourism in Sun Valley, and business in Idaho in general. Kim Perry - Chief Financial Allen & Co. has usually been a family-friendly affair, and that has added to its can't-miss event status for moguls. Part of what makes it so unique is the dress code. WndrCo CEO Jeffrey Katzenberg, for example, wore a navy vest from the brand Zero Restriction, and so did Live Nation CEO Michael Rapino and The Home Depot founder Ken Langone. 2023 The Hollywood Reporter, LLC. In the end, the lure of Sun Valley was too strong, apparently. Amazon founder Jeff Bezos (another Sun Valley regular) said the impetus for the MGM deal was its vast, deep catalog of much beloved intellectual property, but Zaslav saw it coming in 2019. Also making the cut is Jason Kilar, the WarnerMedia CEO who is widely expected to be odd man out and lose his job when the companys spinoff with Discovery is finalized. At a jubilant press conference outside the Colleton County Courthouse in Walterboro, state attorney general Alan Wilson hailed "a great day for the people of South Carolina". After a year when the only stars to be found were in Sun Valleys night sky due to the pandemic, the Allen and Company Conference is back on in 2021. The conferences guest list is notably lacking in diversity, with only a few people of color and Black media leaders invited. From the world of sports theres Boston Red Sox owner John Henry, Major League Baseball commissioner Rob Manfred, Buffalo Bills and Sabres owner Terry Pegula, New England Patriots owner Bob Kraft, National Basketball Association commissioner Adam Silver and National Football League commissioner Roger Goodell. Love is in the air! After all, Walt Disney CEO Bob Chapek, fresh off a contract extension, is on the guest list, as is his predecessor Bob Iger. Discovery CEO David Zaslav). Wall Street observers expect industry bosses to also discuss in Sun Valley whether in formal sessions or during social gatherings indoors or outdoors such challenges as rising inflation, which could impact the upside for sector giants pivot to streaming services. Theres Apples Tim Cook, Berkshire Hathaways Warren Buffett, Walt Disney CEO Bob Chapek, Facebooks Mark Zuckerberg and Sheryl Sandberg, Netflixs Ted Sarandos and Reid Hastings, Sony CEO Kenichiro Yoshida and Comcasts Brian Roberts. policies and providing safe working conditions. Variety is a part of Penske Media Corporation. Discovery's David Zaslav and Bruce Campbell to Walt Disney boss Bob Chapek as well as his predecessor Bob Iger media and tech titans will flock to the annual gathering organized by Allen & Co. First, July 4. Instead on chilly mornings, guests wore puffier outerwear. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. As in years past, there were lavish lunches and dinners, albeit al fresco. kif (@kifleswing) July 10, 2019. Note: Revenues for privately held companies are statistical evaluations. has long been a hallmark of the invite-only Allen event. It's unlike any summer camp you have heard of. Meanwhile, another freshly completed merger, the union of CAA and ICM Partners, will surely be a topic of conversation as ICMs Chris Silbermann and CAAs Bryan Lourd are Sun Valley regulars. Then there's the appearances that attract speculation for other reasons. Academia may not boast the kind of salaries that are usually a requirement for entry at Sun Valley, but the professors and school presidents are useful for the panel discussions that form much of the weeks activities. Indiana Jones 5, Killers of the Flower Moon Weigh Festival Debuts, Harry Potter Star Evanna Lynch: I Wish People Would Give J.K. 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Discovery CEO David Zaslav, Oprah Winfrey. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. It's reported the AOL-Time Warner deal was hatched at the conference. With new mandates in boardrooms across the country to increase diversity in almost all major sectors, its very unlikely the summer camp for moguls can keep going without including Byron Allen, Jay-Z, Robert F. Smith and other high-profile Black execs. At a jubilant press conference outside the Colleton County Courthouse in Walterboro, state attorney general Alan Wilson hailed "a great day for the people of South Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. And though Rupert Murdoch may be sitting out this conference, sons James and Lachlan are expected to attend. And often, the no-shows can attract as much attention as those who are there. Ted Sarandos and Reed Hastings, formerly masters of the universe, are now in the awkward position of leading Netflix during its new underdog phase (head of global TV Bela Bajarias word, not ours). Variety and the Flying V logos are trademarks of Variety Media, LLC. If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. This year, however, the theme of the event may as well be two letters: IP. Webmtcexpo.com. [Inside Idaho: The legend of the Kuna Caves]. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. Silicon Valley giants and media moguls alike have been flocking to Idaho this week for Allen & Co.'s annual conference at Sun Valley Resort. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. All Rights Reserved. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. While folks who arent invited cant get into the conference itself, media camp outside the event and wait for a chance to catch photos of stars like Oprah Winfrey. The ultra-exclusive event lures some of the biggest names in finance, tech, and media. Join Minnesota's transportation industry for three action-packed days of compelling presentations, thought-provoking panels, and the chance to network with like 84th Annual Minnesota Safety & Health ConferenceMinneapolis Convention Center,May 8-10, 2018 Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. Others getting the golden ticket and chance to trade their power suits for windbreakers and sensible chinos include Shake Shack creator Danny Meyer, Dell Technologies CEO Michael Dell, Palantir CEO Alex Karp, Breaking Bad and Better Call Saul creator Vince Gilligan, Murphy Brown star Candice Bergen, Activision Blizzard CEO Bobby Kotick, producer Brian Grazer, Casey Wasserman, the Los Angeles Olympic Organizing Committee president and head of marketing and management company Wasserman, and Kevin Sabet, a former White House drug control policy advisor who founded Smart Approaches to Marijuana, a political organization opposed to marijuana legalization and commercialization. Address. Last year, Allen & Co., the investment bank behind the gathering, put the event on COVID-related hiatus, but its back on in 2021 and should occur right after the July 4th holiday. The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. By clicking Sign up, you agree to receive marketing emails from Insider Previous conference guests have included Bill and Melinda Gates, Jeff Bezos, Elon Musk, Warren and Susan Buffett,[4] Tony Blair, Google founders Larry Page and Sergey Brin, Allen alumnus and former Philippine Senator Mar Roxas, former Google Chairman Eric Schmidt, Quicken Loans Founder & Chairman Dan Gilbert, Yahoo! 800-228-4966. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman pic.twitter.com/u9fXN7vD0t. Allen & Company is a private investment firm formed in 1922, with headquarters in New York City and London. Other pols and Beltway insiders include Council of Foreign Relations President Richard Haass, former U.S. Secretary of Transportation Elaine Chao, former U.S. Secretary of State James Baker, and William McRaven, the former Commander of the United States Special Forces. Through the years, several major mergers, acquisitions and other deals have reportedly been made following discussions at the Sun Valley conference, such as Bezos' purchase of The Washington Post as well as Disney's acquisition of ABC, Insider reported. There appeared to be more security, and participants seemed less inclined to interact with journalists. Execs have been spotted arriving, checking in, and even heading out for A sign is seen at the entrance to the Sun Valley Resort ahead of the Sun Valley conference organized by Allen & Co. in Sun Valley, Idaho, on July 5. Here are five takeaways from the 38th Sun Valley conference: They are both executives at the social media company, but they are unrelated. Everyone Practices Cancel Culture | Opinion, Deplatforming Free Speech is Dangerous | Opinion, Former New York City Mayor Michael Bloomberg, Film and television producer Brian Grazer, Fashion designer and Alice + Olivia CEO Stacey Bendet. The annual event is described to be a mixer for major tech and media moguls, according to a reporter for NPR's All Things Considered program, David Gura, who is at the event. Discovery, may be among those commiserating about taking brutal equity losses. Minneapolis Convention Center,May 8-10, 2018. It was no wonder why: He just handed over the reins of the company to a new CEO, Andy Jassy, and he is preparing to embark on a trip to space later this month. The invite-only conference gives executives a chance to meet, mingle and discuss deals in private, with all discussions and proceedings off the record. But the step taken to slow the rise of inflation is certainly one that cant be ignored by the moguls, who may be doing less dealing as a consequence. The event has been dubbed the "summer camp for billionaires" due to its guest list. Allen A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. A few regulars arent on the list this time. The guest list for Sun Valley is once again overflowing with bold faced names with the cash and egos to spur a fresh wave of M&A. This year, his visit follows the deal close and first moves to put his stamp on Warner Bros. Discoverys corporate structure, including the departure of various high-level executives. Huge Lack of Diversity Discovery Content, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. 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But the moguls who flock to the Allen & Co. retreat may not be as relaxed as usual when they touch down at the Sun Valley Lodge in the Idaho resort town: From darkening economic clouds to choppy leadership transitions at some of the most storied media companies, there are plenty of reasons for the 1% of the 1% to be breaking a sweat these days. Allen & Co.s annual Sun Valley conference, colloquially referred to as summer camp for moguls because of the power wattage of its attendees and the They have an extraordinarily powerful platform. And deals talk, whether first contact about a potential merger, discussions of pending or completed transactions or meetings that lead to M&A conversations down the line. Federal Reserve Chairman Jerome Powell said June 15 the Fed is not trying to induce a recession with the recent hike in short-term interest rates. 2023 Variety Media, LLC. hide caption. The annual event, which was canceled last year due to the pandemic, has historically been a breeding ground for blockbuster deals: Jeff Bezos' purchase of The Washington Post was born out of conversations at Sun Valley, and Disney's $19 billion acquisition of ABC was hatched at Sun Valley as well. [Streaming] is going to be a street fight, Zaslav told CNBCs Julia Boorstin when asked about WarnerMedias just-announced-at-the-time plans to launch HBO Max. Paramount Global non-executive chair Shari Redstone, who is also traveling to Sun Valley, recently addressed the scale of the company created by the merger of CBS and Viacom, saying it has what it takes to succeed as it topped 62 million global streaming subscribers as of March. Rupert Murdoch didn't make the trip this year, for example. 2023 The Hollywood Reporter, LLC. Discovery is barely three months old in this configuration, rumors about the next big deal for the company (and whether it might involve Redstones assets) will follow Zaslav throughout the week. NPR scored its own exclusive interview with IAC Chairman Barry Diller, in which he argued the movie business "is over.". as well as other partner offers and accept our, Big brands like Nike and Neiman Marcus are snapping up tech companies as e-commerce takes off and first-party data becomes paramount. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. On Thursday, he and his girlfriend, Lauren Snchez, strolled past a group of journalists gathered outside the Sun Valley Lodge. Verizons Allen & Co.s annual Sun Valley conference, colloquially referred to as summer camp for moguls because of the power wattage of its attendees and the activities they enjoy in the mountains, was canceled in 2020 because of the pandemic, but with restrictions being lifted and dealmaking in full swing, the confab that led to The Walt Disney Co.s acquisition of CapCities/ABC, the much-maligned AOL-Time Warner merger, early talks between Comcast executives and NBCUniversal, and Googles takeover of YouTube is ready for a comeback. Access your favorite topics in a personalized feed while you're on the go. Kevin Dietsch/Getty Images After all, both Bob Chapek, the embattled Disney chief, and Bob Iger, the man he has struggled to replace, are on the guest list for the 2022 iteration of Sun Valley. Read Next: The Penguin Series at HBO Max Casts Clancy Brown, VIP+ Analysis: For Some in Media, Its the Calm Before the Crash, Harry Potter Star Evanna Lynch: I Wish People Would Give J.K. 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WebSince its founding in 1982, the Allen & Company Sun Valley Conference has regularly drawn high-profile attendees such as Bill Gates, Warren Buffett, Rupert Murdoch, Barry Rising Interest Rates, Cooling M&A Fever Moguls gather for Allen & Co.s annual event in Sun Valley, Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. While we'll have to wait and see what comes of this year's conference, we can at least get a glimpse of which moguls have arrived at this year's ultra-exclusive enclave. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. Yes, Scream VI Marketing Is Behind the Creepy Ghostface Sightings Causing Scares Across the U.S. David Oyelowo, Taylor Sheridan's 'Bass Reeves' Series at Paramount+ Casts King Richard Star Demi Singleton (EXCLUSIVE), Star Trek: Discovery to End With Season 5, Paramount+ Pushes Premiere to 2024. Sun Valley is a forty-year tradition for Allen & Company, a family-owned New York boutique investment bank thats worked on some of the media and tech industries biggest deals. Variety and the Flying V logos are trademarks of Variety Media, LLC. A sign is seen at the entrance to the Sun Valley Resort ahead of the Sun Valley conference organized by Allen & Co. in Sun Valley, Idaho, on July 5. After all, PwC in a recent report noted that deals activity has recently slowed among some of the major media companies, following a peak driven by content and technology acquisitions to fuel expansion of streaming services.. The week isnt all work though hikes in the Sawtooth Mountains and rafting trips down the Salmon River are also on the agenda. It is "summer camp" after all, albeit for a rarefied set of people. This years group of Ivory Tower denizens includes The University of Chicago President Bob Zimmer, Georgetown University President Jack DeGioia, and Nicholas Christakis, Yale Universitys Sterling Professor of Social and Natural Science. Allen & Co.s Sun Valley conference is set to return to the valley July 5-9, bringing with it some of the worlds most famous billionaires and business tycoons and Join half a million readers enjoying Newsweek's free newsletters. Two weeks ago, UM Kansas City lost one of its two big-time scorers when AT&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. Subscribe for full access to The Hollywood Reporter. Given weakened media and entertainment stock prices amid a difficult first half of 2022 and fears of a recession, which would hit advertising revenue of companies, many executives could over the near-term concentrate more on the blocking and tackling needed to navigate the new uncertainty than on striking big, transformative deals. A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. Kevin Dietsch/Getty Images For example, as CEO of Discovery, David Zaslav has long been one of the media moguls attending the annual gathering and one who has been sought after by his peers and media reporters alike. Texas was the only league team with a shot at tying KU entering Wednesdays conference action. "SUN VALLEY 2007 - DealBook Blog - NYTimes.com", "Technology and Media VIPs Gather at Yearly Sun Valley Conference - Digital TV Life", "The Annual Summer Camp For Billionaires", "Murdoch speaks briefly to the media as he arrives the Allen and Company Sun Valley Conference in Sun Valley, Idaho", "Nike co-founder and chairman Knight attends the second day of the Allen and Company Sun Valley Conference in Sun Valley, Idaho", "Dell founder and CEO Dell attends the second day of the Allen and Company Sun Valley Conference in Sun Valley, Idaho", "Ivanka Trump and Jared Kushner hobnob in Sun Valley with the tech and media elite who rule our universe", "Inside the Private World of Allen & Co. Putting a premium on personal ties, this family firm thrives in the land of the giants. Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. Never mind if you are world-famous. The Discovery chief could be joined at the annual confab of power brokers and media barons by Amazon founder Jeff Bezos, fresh off his $8.5 billion deal to purchase Metro-Goldwyn-Mayer. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. With the proliferation of several new direct-to-consumer services, the competitive landscape in streaming has intensified, Bank of America analyst Jessica Reif Ehrlich wrote in a mid-June report. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. A range of companies and institutions held court at dedicated tables while the most prominent business leaders in the world made the rounds of meetings that ran no more than 30-40 minutes. West St Paul, MN 55118. The one-percent of the one-percenters lead busy lives, after all. Because of pandemic restrictions, children were not allowed. Those sitting Sun Valley out this time include Rupert Murdoch and his son Lachlan (though ex-wife Wendi Deng Murdoch is named on the list), as well as billionaire entrepreneur Peter Thiel and Twitter CEO Jack Dorsey. Sign up for THR news straight to your inbox every day. Read more: Big brands like Nike and Neiman Marcus are snapping up tech companies as e-commerce takes off and first-party data becomes paramount. hide caption, From left to right, Dana Blumberg stands next to her boyfriend, New England Patriots owner Robert Kraft, Facebook COO Sheryl Sandberg and Facebook CEO Mark Zuckerberg as they talk after a session at the Allen & Company Sun Valley Conference on Thursday in Sun Valley, Idaho. So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. Then theres Twitter CEO Parag Agrawal and Elon Musk, the billionaire Tesla and SpaceX founder who is trying to wrap up his $44 billion acquisition of the social media platform. From left to right, Dana Blumberg stands next to her boyfriend, New England Patriots owner Robert Kraft, Facebook COO Sheryl Sandberg and Facebook CEO Mark Zuckerberg as they talk after a session at the Allen & Company Sun Valley Conference on Thursday in Sun Valley, Idaho. The Black community has historically been the most underrepresented, despite the number of Black power players in media and entertainment. On Thursday, several dozen of them were visible. Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain. In years past, the investment firm would organize trips to the pool, parties on Sun Valley Lake and games for children, and Allen & Co. would hire dozens of local teenagers to work as babysitters. And its not exactly a secret that the two Bobs are barely on speaking terms these days. It is internationally acclaimed for bringing science-driven solutions to the Discovery's David Zaslav and Bruce Campbell to Walt Disney boss Bob Chapek as well as his predecessor Bob Iger media and tech Insider reported the busy private jet traffic on Tuesday saw the U.S. Federal Aviation Administration ban other planes from the country's West Coast to as far as Michigan and Canada from departing. President and CEO of Chubb Limited Evan Greenberg (left) and co-founder of Microsoft Bill Gates walk together at the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. Contact her at, Annual spotlight on Sun Valley helps Idahos economy in ways large and small, Inside Idahos native fisher; and why its name is ironic, ICYMI: Idaho lake known for world record catch draws anglers, ICYMI: The Center of the Universe? From Warner Bros. Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. President and CEO of Chubb Limited Evan Greenberg (left) and co-founder of Microsoft Bill Gates walk together at the Allen & Company Sun Valley conference on If he doesnt attend, hell have company. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho.

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