Discovery CEO David Zaslav). And for almost 40 years, its annual Sun Valley conference has been central to its mission. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. Kevin Dietsch/Getty Images 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. 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. Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. Variety and the Flying V logos are trademarks of Variety Media, LLC. Allen & Co. has not officially confirmed the conferences return, but a check of Sun Valley Resorts reservation system which books the Lodge, Inn and more accommodations shows the week after July 4 is blocked out, and the local newspaper Idaho Mountain Express reported that the conference would return. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. The invite-only conference gives executives a chance to meet, mingle and discuss deals in private, with all discussions and proceedings off the record. Their absence made the event feel more subdued than in years past. This year, Allen & Co. seemed determined to pick up right where it left off. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. 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. We all have platform envy, but they need IP to attract people to their platform.. Sign up for THR news straight to your inbox every day. 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. Kim Perry - Chief Financial Officer. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman," Gasparino tweeted. This year's conference came soon after Discovery announced a deal to buy WarnerMedia, which includes CNN, HBO and Warner Bros. The annual Allen & Co. conference in Sun Valley, Idaho is taking place this week, attracting some of the tech industrys biggest heavyweights. 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". - 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. He Now Says The Movie Business Is Dead, Patagonia has decided to stop adding corporate logos to its clothing. Its possible, for instance, that Bezos planned trip to space on July 20 could alter those plans. Small town in Idaho says it is, The Mylk Box: Locally made nut milk shop opens in Boise, Indoor golf course will soon be in full swing in Boise, Blown away: Project aims to get more people shaping glass in Boise, Consumers file antitrust lawsuit to block Kroger Albertsons merger, Bed Bath and Beyond to close Boise store, holds liquidation sale, Coffee cafe and roastery to open in Watercooler building, Compromise: New version of self-storage unit tax bill gets the approval of Ada Assessor, moves to House floor, ACHD backtracks from dual 8th/9th Street bike lane pitch, approves design of two bike lanes on 8th Street near St. Joes School, Bill introduced requiring voter approval for any property tax increase from cities and counties, Lego poised to open store in Village at Meridian, Boise continues to negotiate with firefighters over pay & benefits in months of arbitration. On Thursday, several dozen of them were visible. 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. 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. For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. Thats a deal thats expected to usher in more than 280-characters worth of changes at Twitter. There were also plenty of opportunities for golf and kayaking, or just strolling to take in the mountain air. Silicon Valley giants and media moguls alike have been flocking to Idaho this week for Allen & Co.'s annual conference at Sun Valley Resort. Moguls, Deals And Patagonia Vests: A Look Inside 'Summer Camp For Billionaires', Barry Diller Headed 2 Hollywood Studios. commitment to safety includes recognizing safe behaviors, having effective
Each year, usually the week after the Fourth of July, big names flock to Sun Valley in their private jets. The Hollywood Reporter is a part of Penske Media Corporation. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. Putting a premium on personal ties, this family firm thrives in the land of the giants", When Private Jets Ferry Billionaires to Small-Town Idaho, https://en.wikipedia.org/w/index.php?title=Allen_%26_Company_Sun_Valley_Conference&oldid=1132458878, Articles with a promotional tone from November 2019, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 9 January 2023, at 00:15. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." Last year, Zaslav came to town after having unveiled the megadeal with telecom giant AT&T for its entertainment arm, WarnerMedia. And though Rupert Murdoch may be sitting out this conference, sons James and Lachlan are expected to attend. 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. WebMinnesota Safety & Health Conference Minneapolis Convention Center,May 8-10, 2018. Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. Join half a million readers enjoying Newsweek's free newsletters. Sun Valley, the annual event colloquially known as summer camp for billionaires, kicks off as usual on July 5. Our
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. All Rights Reserved. The fact that both Musk and Twitter CEO Parag Agrawal are expected in town adds more intrigue. 2023 Variety Media, LLC. Kevin Dietsch/Getty Images 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. Updated: 2:50 pm PT 6/8/21 to reflect that Nikki Haley will not attend the conference. 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. 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 conferences guest list is notably lacking in diversity, with only a few people of color and Black media leaders invited. 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. 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. has long been a hallmark of the invite-only Allen event. 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. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. 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? A few regulars arent on the list this time. Never mind if you are world-famous. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. And its not exactly a secret that the two Bobs are barely on speaking terms these days. Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. 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). [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. 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. It's reported the AOL-Time Warner deal was hatched at the conference. Participants in this year's conference had to be fully vaccinated, and upon arrival, everyone had to take a COVID-19 test. Instead on chilly mornings, guests wore puffier outerwear. 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 informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. 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. Note: Revenues for privately held companies are statistical evaluations. 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. 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. Management teams have also focused more commentary on a disciplined approach to content budgets. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. Recession Blues In years past, Allen & Co. gave each participant a Patagonia fleece a vest or a jacket, with the bank's logo embroidered on the chest. 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 At the same time, frequent Sun Valley-goer Zaslav now boasts Warner Bros. in front of his Discovery CEO title, making him the new king in town. Bloomberg reported Comcast Corporation's takeover of NBCUniversal and Verizon Communications Inc.'s acquisition of AOL were also said to have been facilitated at the conference. 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. 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. 800-228-4966. On Thursday, he and his girlfriend, Lauren Snchez, strolled past a group of journalists gathered outside the Sun Valley Lodge. Afternoons are spent biking, whitewater rafting and barbecuing. Then, Sun Valley. Subscribe for full access to The Hollywood Reporter. 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 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. (Jassy also made it to the conference.). During a press conference announcing the deal May 17, Zaslav said it brings together the most valuable, important and exciting IP in the world., This summer, Zaslav and a slew of tech and media moguls once again are poised to board their private jets for Sun Valley, marking the return of horseback riding, rafting, guided hikes, golf and perhaps more billion-dollar deals. Rising Interest Rates, Cooling M&A Fever This summer, the IP capital of the world will be central Idaho. Because of the pandemic, more of the conference's proceedings were held outside. 30 West Superior Street
They have an extraordinarily powerful platform. 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. Rowling More Grace and Listen to Her, Netflix's Joey Sasso Explains Where His Relationship With Kariselle Snow Stands After 'Perfect Match, Reality TV Star Stephen Bear Jailed for 21 Months Over OnlyFans Sex Video, Tom Sizemore, Saving Private Ryan Actor, Dies at 61, Why Sylvester Stallone Is Not in 'Creed 3', Ke Huy Quan Lost His Health Insurance Right After Filming Everything Everywhere All at Once: Nobody Else Wanted to Hire Me, Willem Dafoe Made Emma Stone Slap Him 20 Times While Filming, Even Though He Was Off Camera: Thats What You Want From Actors, BTS J-Hope Sees Dream Collab Realized With On the Street Featuring J. Cole: This Song Opens a Door to My Next Chapter, Jonathan Majors Confronts Those Terrible Ant-Man and the Wasp: Quantumania Reviews: It Doesnt Change How I See Myself, 21 Best Movies New to Streaming in March: Murder Mystery 2, Triangle of Sadness and More, Britain's $4 Billion Boss: ITV Chief Carolyn McCall Bets It All on Talent, 2023 Music Festivals: How to Buy Tickets to Coachella, Governors Ball, Lollapalooza and More. 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. Casual with lots of sweater vests and Patagonia. 84th Annual Minnesota Safety & Health ConferenceMinneapolis Convention Center,May 8-10, 2018
Allen & Co. was an underwriter on Google's and Facebook's IPOs. 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. 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. AT&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. Discovery. In the early morning darkness of July 10, 2019, on a bare-bones outdoor interview set constructed on the side of a road in Sun Valley, Idaho, Discovery CEO David Zaslav laid out the case for the M&A frenzy that would hit the entertainment business nearly two years later. Billionaires broke bread at tables near a pond outside the Sun Valley Inn. The stock markets roller coaster ride in the first half of the year means that some regulars at the annual gathering hosted by investment bank Allen & Co. will be arriving with much-diminished market caps. Full restaurants, hotel rooms and retail shops bring dollars. Theyre joined in the dealmakers club by Liberty Global Chairman John Malone and top lieutenants Mike Fries and Greg Maffei, Live Nation CEO Michael Rapino, CAAs Bryan Lourd, ICMs Chris Silbermann, Microsoft CEO Satya Nadella, ViacomCBSs Shari Redstone and Viking Global Investors Andreas Halvorsen. 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. 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. David Zaslav at Allen & Company's Sun Valley Conference in 2021. 2023 The Hollywood Reporter, LLC. Allen & Company is a private investment firm formed in 1922, with headquarters in New York City and London. 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. 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. Putting a premium on personal ties, this family firm thrives in the land of the giants. Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. They are both executives at the social media company, but they are unrelated. 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 The cooperation of labor and
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. Part of what makes it so unique is the dress code. It may not be the only case of awkward encounters in Sun Valley. It is "summer camp" after all, albeit for a rarefied set of people. 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. Or as close to it as possible. 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. kif (@kifleswing) July 10, 2019. 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. The secretive and exclusive gathering of media, tech and other power brokers traditionally mixes presentations, discussions and such social activities as hiking, rafting and golf. And those exceptions are typically white women and Asian men. 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 dress code? This week, for example, Netflix CEO Ted Sarandos was seen walking with NBCUniversal CEO Jeff Shell. 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. Webmtcexpo.com. 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. Power players traditionally have used the exclusive and secretive event to casually lay the groundwork for M&A. Idaho; venues include the Sun Valley Lodge (above). Subscribe for full access to The Hollywood Reporter. Discovery CEO David Zaslav, Oprah Winfrey. 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? Executives from Executives from the biggest and most influential tech and media companies will gather behind closed doors. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. Click here to subscribe. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. hide caption. 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. 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. Reversals of Fortune If things go south, thats bad news for many media moguls, since the films and shows they produce are tailor-made for people with discretionary income. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, 'The Covenant' Trailer: Jake Gyllenhaal Goes on Risky Rescue Mission in Guy Ritchie Thriller, Amazon Beats Expectations in Q4 Earnings, Advertising Revenue Surges to $11.6B, Rupert Murdoch, Fox Corp. 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