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It's reported the AOL-Time Warner deal was hatched at the conference. 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. 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. Discovery CEO David Zaslav, Oprah Winfrey. 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 "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. The informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. 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. And its not exactly a secret that the two Bobs are barely on speaking terms these days. 2023 The Hollywood Reporter, LLC. 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. 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. 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. hide caption. Harry Griffith, Executive Director ofSun Valley Economic Developmenttold BoiseDev in 2019 there are direct, tangible impacts from the conference. Silicon Valley giants and media moguls alike have been flocking to Idaho this week for Allen & Co.'s annual conference at Sun Valley Resort. 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. As usual, most participants traveled by private jets. 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. BoiseDevs Don Day contributed reporting. 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. It is "summer camp" after all, albeit for a rarefied set of people. The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. 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. 1550 Humboldt Avenue. 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.. Variety and the Flying V logos are trademarks of Variety Media, LLC. If he doesnt attend, hell have company. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. 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. Subscribe for full access to The Hollywood Reporter. Phone: 218-722-2625 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 Sign up for THR news straight to your inbox every day. Expected to join him is his longtime right-hand man and deals advisor, Bruce Campbell, the merged entertainment powerhouses chief revenue and strategy officer. 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. Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. 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. 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. WebThe Allen D. Leman Swine Conference is an annual educational event for the global swine industry. They are both executives at the social media company, but they are unrelated. 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. 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. WebMinnesota Safety & Health Conference Minneapolis Convention Center,May 8-10, 2018. This years contingent from the Fourth Estate includes Diane Sawyer, Anderson Cooper, Van Jones, Tom Brokaw, Gayle King, New Yorker reporter Evan Osnos, New York Times columnist Thomas Friedman, Squawk Box co-hosts Becky Quick and Andrew Ross Sorkin, and Lionel Barber, the former editor of the Financial Times. Its possible, for instance, that Bezos planned trip to space on July 20 could alter those plans. 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. Variety is a part of Penske Media Corporation. 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 This is driving significant increases in content spending (including local content) globally along with an uptick in churn for leading services such as Netflix (and the majority of net add growth skewing towards newer entrants)., Sign up for THR news straight to your inbox every day. About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. 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? management make Minnesota Power a safer place to work. The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. Part of what makes it so unique is the dress code. 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. The cooperation of labor and Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. Awkward Encounters That all helps with the brand and marketing perspective.. kif (@kifleswing) July 10, 2019. 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. From Warner Bros. Other deal talk could this year move from hunting for new targets to focusing on getting the most out of past deals or existing business portfolios. 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. For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. Several major company heads, media executives and other public figures have been pictured at the conference, according to images from Getty and other reports, including the following: According to Gura, several executives who have invested in cryptocurrencies were reported to be at the event, as well as those heading up companies focused on artificial intelligence. 800-228-4966. Recession Blues 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. 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. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. This week, A-listers from the worlds of tech, media, and finance are descending upon Sun Valley, Idaho, for a week of networking, panel discussions, and outdoor pursuits hosted by private investment bank Allen & Co. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. Then, Sun Valley. The Hollywood Reporter is a part of Penske Media Corporation. In fact, one of the favorite pastimes is to see who's spotted with whom. 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 The ultra-exclusive event lures some of the biggest names in finance, Join half a million readers enjoying Newsweek's free newsletters. Discovery's David Zaslav and Bruce Campbell to Walt Disney boss Bob Chapek as well as his predecessor Bob Iger media and tech 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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Tim Cook and Eddy Cue have arrived in Sun Valley, Idaho https://t.co/qiiZizaxFT pic.twitter.com/CHoozGCcL4 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. 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. If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. 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). Discoverys WarnerMedia deal, Amazons $8.45 billion takeover of MGM and the reopening of the economy are likely to feature among the topics of debate at the retreat, which traditionally starts after the Fourth of July holiday (Allen & Co., as it happened, was an adviser to Discovery on the WarnerMedia deal). Whether Sun Valley or hoodies, some trends, as they say, never go out of fashion. 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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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. 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. 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. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. 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. 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Griffith said the influx of visitors may come back and continue spending dollars down the road. Idaho; venues include the Sun Valley Lodge (above). On Thursday, several dozen of them were visible. 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. This year is unlikely to be different, even if the tone may be different from last year. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." 30 West Superior Street (The agenda and speakers are kept secret, though CNBC puts up an interview set to try to wrangle the more press-friendly attendees.). And those exceptions are typically white women and Asian men. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. 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. With few exceptions, the CEOs at the elite event are largely white males. 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). Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain. The same is true for two invited Meta Platforms executives: CEO Mark Zuckerberg and COO Sheryl Sandberg, who recently announced that she would step down this fall after 14 years at the company formerly known as Facebook. The giant shake-ups, large transactions and dips in stock prices across the entertainment landscape over the past year could make for a change in standing among colleagues in Idaho this July. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. 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. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. 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. 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. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. 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 CEO David Zaslav). Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. The Hollywood Reporter is a part of Penske Media Corporation. This year, however, the theme of the event may as well be two letters: IP. [4][9][10][11][2], and more. Execs have been spotted arriving, checking in, and even heading out for Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. 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. 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. There were also plenty of opportunities for golf and kayaking, or just strolling to take in the mountain air. Join Minnesota's transportation industry for three action-packed days of compelling presentations, thought-provoking panels, and the chance to network with like 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. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. 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. 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. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. 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". They own the world, he said at the time when asked about Amazon or Apple getting into the content business. Management teams have also focused more commentary on a disciplined approach to content budgets. 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. Our Allen The Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are hide caption. Never mind if you are world-famous. 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. 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. With that in mind, any photos or reports of Chapek and Iger chatting, or simply standing near each other, could draw attention. The gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. 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. Before the conference got underway, the manager of the Friedman Memorial Airport in nearby Hailey, Idaho, said he expected more than 90 private planes. The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. "Love is in the air! 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. Allen & Company has advised, helped found, and/or invested in companies including BET, InterActiveCorp, Oxygen Media, Discovery Communications, News Corporation, the Coca-Cola Corporation and Google.[12][13][14]. He Now Says The Movie Business Is Dead, Patagonia has decided to stop adding corporate logos to its clothing. Facebooks Mark Zuckerberg, Warren Buffet, and that Jeff Bezos guy to name a few. Private jets park alongside grazing cows at the Friedman Memorial Airport ahead of the Allen & Company Sun Valley Conference on July 5 in Sun Valley, Idaho. - 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. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. The one-percent of the one-percenters lead busy lives, after all. Because so much of the conference took place outside this year, reporters were kept even farther away than usual.

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