Click here to subscribe. Facebooks Mark Zuckerberg, Warren Buffet, and that Jeff Bezos guy to name a few. Reversals of Fortune All Rights Reserved. 1550 Humboldt Avenue. Then, Sun Valley. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." Discovery's David Zaslav and Bruce Campbell to Walt Disney boss Bob Chapek as well as his predecessor Bob Iger media and tech hide caption. From Warner Bros. (Jassy also made it to the conference.). 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. Attendees previously likely to talk mergers and acquisitions, the go-to move for growth in recent years, especially as the streaming wars have ramped up, might put a pin in new conversations. If he doesnt attend, hell have company. The WKU Lady Toppers complete the season sweep of the UTEP Miners after Karris Allen hits the go ahead shot to help propel the Tops to a 62-59 win. I think any time Idaho is mentioned with this category of individual, whether its from an economic development perspective or a travel and tourism perspective, its obviously good for us, Borud said. Facebook CEO Mark Zuckerberg, Apple CEO Tim Cook and Microsoft co-founder Bill Gates are reportedly among those who have been spotted at this year's event, which began Tuesday and concludes on July 10. Widely known as "summer camp for billionaires," participants from Facebook's Mark Zuckerberg to Apple's Tim Cook gathered for a week of outdoor activities like hiking and tennis and of course, networking and plenty of dealmaking. 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. After all, Allen & Co. pays for the whole event with the understanding that it will eventually get a cut of any deal that emerges from its conference. Of course, no writeup of the Allen & Co. Sun Valley Conference would be complete without a reference to fashion or the lack of it, depending on one's perspective. 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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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 On Thursday, several dozen of them were visible. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. Kim Perry - Chief Financial 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. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. The Black community has historically been the most underrepresented, despite the number of Black power players in media and entertainment. Putting a premium on personal ties, this family firm thrives in the land of the giants. 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. Webmtcexpo.com. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. 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. 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. Awkward Encounters The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. Each year, usually the week after the Fourth of July, big names flock to Sun Valley in their private jets. Subscribe for full access to The Hollywood Reporter. All Rights Reserved. Access your favorite topics in a personalized feed while you're on the go. Rupert Murdoch didn't make the trip this year, for example. Kevin Dietsch/Getty Images Sun Valley also played matchmaker for AOL and Time Warners unhappy union, which, until AT&Ts short-lived ownership of WarnerMedia, was far-and-away the worst thing that ever happened to the company that brothers Harry, Albert, Sam and Jack Warner founded in 1923 (it probably still is, but at least it now has a rival in the AT&T merger). Before the conference got underway, the manager of the Friedman Memorial Airport in nearby Hailey, Idaho, said he expected more than 90 private planes. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. 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. Harry Griffith, Executive Director ofSun Valley Economic Developmenttold BoiseDev in 2019 there are direct, tangible impacts from the conference. Some of the biggest names in technology, media and finance have gathered this week in Sun Valley, Idaho, for the latest edition of the annual conference hosted by Allen & Company, a private investment bank. Sun Valley has often played host to presidential aspirants and government bigwigs such as Chris Christie and Cory Booker, neither of whom are on this years guest list. Tim Cook and Eddy Cue have arrived in Sun Valley, Idaho https://t.co/qiiZizaxFT pic.twitter.com/CHoozGCcL4 A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. Here are five takeaways from the 38th Sun Valley conference: It was easy to see signs of the pandemic reality all around, and how it has changed our notion of what's normal. 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. Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. And those exceptions are typically white women and Asian men. Moguls, Deals And Patagonia Vests: A Look Inside 'Summer Camp For Billionaires', Barry Diller Headed 2 Hollywood Studios. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". Here are five takeaways from the 38th Sun Valley conference: He Now Says The Movie Business Is Dead, Patagonia has decided to stop adding corporate logos to its clothing. Subscribe for full access to The Hollywood Reporter. The Hollywood Reporter is a part of Penske Media Corporation. There were also plenty of opportunities for golf and kayaking, or just strolling to take in the mountain air. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. 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. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. Kevin Dietsch/Getty Images Love is in the air! 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. This week, the aggregate wealth of the men and women staying at the Sun Valley Resort is likely to reach more than $1 trillion, according to an NPR article. hide caption. Discovery CEO David Zaslav, Oprah Winfrey. 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. 2023 The Hollywood Reporter, LLC. 2023 Variety Media, LLC. Last year, Zaslav came to town after having unveiled the megadeal with telecom giant AT&T for its entertainment arm, WarnerMedia. All Rights Reserved. From Warner Bros. Our 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. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. 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. 800-228-4966. There may be some tense moments by the duck pond. Because of pandemic restrictions, children were not allowed. - June 28, 2004", "Colombia's President Alvaro Uribe attends 2009 Allen & Company Sun Valley Conference", "Allen and Co. Sun Valley Conference: Gates, Murdoch and ZuckerbergOh My", "idaho mountain express: Media moguls alight in valley Allen + Co opens 22nd annual conference: Friday, July 2, 2004", "Idaho Mountain Express: Herbert Allen Jr. comes calling again - July 5, 2006", "Media moguls focus on digital dollars at Sun Valley", "Inside the Private World of Allen & Co. 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. Casual with lots of sweater vests and Patagonia. If more mergers and acquisitions are on the horizon, they may be hatched at Sun Valley, which in the past has been the locus of such mega-pacts as Comcasts purchase of NBC/Universal, the Washington Posts sale to Bezos and Disneys deal for Capital Cities/ABC. Verizons 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. The latter stayed at the company as executive chairman until the end of last year. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. In fact, one of the favorite pastimes is to see who's spotted with whom. It's reported the AOL-Time Warner deal was hatched at the conference. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. The ultra-exclusive event lures some of the biggest names in finance, tech, and media. With few exceptions, the CEOs at the elite event are largely white males. Read Next: Rachael Ray Talk Show to End After 17 Seasons, Michael P. 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? After all, amid increased competition, the rising cost of living and Netflixs shock first-quarter subscriber drop, analysts have debated whether the one or the other Hollywood powerhouses streaming subscriber and financial forecasts may have to come down. The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. Power players traditionally have used the exclusive and secretive event to casually lay the groundwork for M&A. 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. Expected to join him is his longtime right-hand man and deals advisor, Bruce Campbell, the merged entertainment powerhouses chief revenue and strategy officer. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. Each of those players that are chasing that ball chasing scripted movies and scripted series they are chasing IP, and none of them have enough., Two years later, and Zaslav is poised to take control of HBO Max himself as part of an IP-driven megadeal that will see WarnerMedia and Discovery merge. Variety is a part of Penske Media Corporation. Only hours after The New York Times published an upcoming book excerpt describing a supposed falling out between Facebook CEO Mark Zuckerberg and COO Sheryl Sandberg, the two executives appeared together, smiling and presenting a united front, in front of a group of photographers. On this Wikipedia the language links are at the top of the page across from the article title. 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? 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. Recession Blues Among members of the media attending the event were CNN's Anderson Cooper and Van Jones; Andrew Ross Sorkin of The New York Times and CNBC; CBS News's Gayle King; and The Washington Post columnist David Ignatius. 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. Management teams have also focused more commentary on a disciplined approach to content budgets. This year, Allen & Co. seemed determined to pick up right where it left off. Diane Warren Performs Her 14 Oscar-Nominated Songs in Six Minutes (Exclusive Video), Comcasts NBCU and Sky Partner With MultiChoice on Showmax Streaming Service in Africa, ITV Studios 2022 Revenue Jumps 19 Percent, ITV Ad Revenue Drops Slightly, First Quarter to Fall 11 Percent, Twickenham Film Studios Chair Buys 6.95 Percent Stake in APX Group, HGTV Orders More of Two Young Shows, With an Eye on Diversifying Talent and Streaming Output, Australia's Foxtel Inks Multi-Year Deal to Retain Warner Bros. 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. The conferences guest list is notably lacking in diversity, with only a few people of color and Black media leaders invited. On Thursday, he and his girlfriend, Lauren Snchez, strolled past a group of journalists gathered outside the Sun Valley Lodge. Discovery, may be among those commiserating about taking brutal equity losses. Variety is a part of Penske Media Corporation. Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain. BoiseDevs Don Day contributed reporting. And its not exactly a secret that the two Bobs are barely on speaking terms these days. Sign up for THR news straight to your inbox every day. Their absence made the event feel more subdued than in years past. The dress code? 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. The gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. Two weeks ago, UM Kansas City lost one of its two big-time scorers when Nikki Haley, former US Ambassador to the UN and a potential 2024 candidate, is on the invite list, but a spokesperson says she will not make the trek to Idaho. The event is off-the-record, but some journalists are allowed behind the velvet rope, either to serve as moderators for talks or to source build. But, while harder to measure, the brand cachet the conference brings helps build the areas economy. The fact that both Musk and Twitter CEO Parag Agrawal are expected in town adds more intrigue. 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. CNBC set up a studio on the side of a nearby mountain, and a several attendees sat down for interviews, including Verizon CEO Hans Vestberg and LinkedIn co-founder Reid Hoffman. 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. 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. Then there's the appearances that attract speculation for other reasons. 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. And often, the no-shows can attract as much attention as those who are there. Or as close to it as possible. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. The annual Allen & Co. conference in Sun Valley, Idaho, is officially underway. 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About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. As in years past, there were lavish lunches and dinners, albeit al fresco. "Love is in the air! Top executives are poised to jet to Sun Valley for Allen & Co.s exclusive conference in July where power players lay the groundwork for blockbuster tie-ups. 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.. Execs have been spotted arriving, checking in, and even heading out for So next time there is a monumental deal in tech or media, its possible it sprouted in Sun Valley, Idaho. The Sun Valley conference is officially in full swing. Phone: 218-722-2625 Allen & Company is a private investment firm formed in 1922, with headquarters in New York City and London. They will hit the posh resort at a time when many analysts and insiders believe that Hollywood and Silicon Valley are in the midst of an unprecedented period of consolidation. They have an extraordinarily powerful platform. Almost everyone wears casual clothes and a simple name tag. This summer, the IP capital of the world will be central Idaho. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. Sun Valley, the annual event colloquially known as summer camp for billionaires, kicks off as usual on July 5. Right after Independence Day, media and technology titans will once again jet to the Idaho resort to mingle at the annual gathering of investment bank Allen & Co., which has been nicknamed summer camp for moguls.. The investment bank doesnt publicly release a guest list or agenda for the gathering, but attendees, including speakers from the political world, tend to surface sooner or later. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. Billionaires broke bread at tables near a pond outside the Sun Valley Inn. After upending the media landscape with his deal to combine Discovery with WarnerMedia, David Zaslav will touch down in Sun Valley, Idaho this July for Allen & Co.s annual media conference. And at time when some journalists can be as famous, or even more famous than some of the participants, it's natural that some members of the media would attend not to cover the events, but to hobknob as participants. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. Variety and the Flying V logos are trademarks of Variety Media, LLC. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. Over the past few days, the annual superconference hosted by Allen & Company, a pretty prestigious boutique investment bank in NYC, has taken place in Sun 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. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. And for almost 40 years, its annual Sun Valley conference has been central to its mission. Because of the pandemic, more of the conference's proceedings were held outside. management make Minnesota Power a safer place to work. When video game maker Activision Blizzard's CEO, Bobby Kotick, arrived at the resort, the founder of Imagine Entertainment, Brian Grazer, gave him a big hug. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. co-founder Jerry Yang, financer George Soros, Facebook founder Mark Zuckerberg, media mogul Rupert Murdoch,[5] eBay CEO Meg Whitman, BET founder Robert Johnson, Time Warner Chairman Richard Parsons, Nike founder and chairman Phil Knight,[6] Dell founder and CEO Michael Dell,[7] NBA player LeBron James, Professor and entrepreneur Sebastian Thrun, Governor Chris Christie, entertainer Dan Chandler, Katharine Graham of The Washington Post, Diane Sawyer, InterActiveCorp Chairman Barry Diller, Linkedin co-founder Reid Hoffman, entrepreneur Wences Casares, EXOR and FCA Chairman John Elkann, and Washington Post CEO Donald E. Graham, Ivanka Trump and Jared Kushner,[8] Bob Iger, Warner Bros. Invites to the conference are highly coveted among tech titans and media moguls, but the conference's guest list doesn't change that much from year to year. Note: Revenues for privately held companies are statistical evaluations. Rising Interest Rates, Cooling M&A Fever Executives from the biggest and most influential tech and media companies will gather behind closed doors. 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.
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