Here are five takeaways from the 38th Sun Valley conference: On Thursday, he and his girlfriend, Lauren Snchez, strolled past a group of journalists gathered outside the Sun Valley Lodge. This year's conference came soon after Discovery announced a deal to buy WarnerMedia, which includes CNN, HBO and Warner Bros. Kim Perry - Chief Financial Officer. 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. 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. 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. Rising Interest Rates, Cooling M&A Fever Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. 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. 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". 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. Minneapolis Convention Center,May 8-10, 2018. policies and providing safe working conditions. 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. They are both executives at the social media company, but they are unrelated. Griffith said the influx of visitors may come back and continue spending dollars down the road. But, while harder to measure, the brand cachet the conference brings helps build the areas economy. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. hide caption. 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. 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. 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! Phone: 218-722-2625 Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Kevin Dietsch/Getty Images 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. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. 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. Variety and the Flying V logos are trademarks of Variety Media, LLC. 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. All rights reserved. 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 2023 Variety Media, LLC. They own the world, he said at the time when asked about Amazon or Apple getting into the content business. 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. 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. 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. 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. WebThe Allen D. Leman Swine Conference is an annual educational event for the global swine industry. Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. Management teams have also focused more commentary on a disciplined approach to content budgets. 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. 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. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. Afternoons are spent biking, whitewater rafting and barbecuing. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. Whether Sun Valley or hoodies, some trends, as they say, never go out of fashion. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. Then there's the appearances that attract speculation for other reasons. 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. Moguls gather for Allen & Co.s annual event in Sun Valley, 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 Texas was the only league team with a shot at tying KU entering Wednesdays conference action. Kevin Dietsch/Getty Images 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. The gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. Discovery Content, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. 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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. 84th Annual Minnesota Safety & Health ConferenceMinneapolis Convention Center,May 8-10, 2018 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. 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. All Rights Reserved. Executives from the biggest and most influential tech and media companies will gather behind closed doors. All Rights Reserved. And often, the no-shows can attract as much attention as those who are there. We all have platform envy, but they need IP to attract people to their platform.. 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. Access your favorite topics in a personalized feed while you're on the go. Variety is a part of Penske Media Corporation. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. Almost everyone wears casual clothes and a simple name tag. If he doesnt attend, hell have company. 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. 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. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. 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. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. From Warner Bros. 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. There may be some tense moments by the duck pond. Kevin Dietsch/Getty Images (Jassy also made it to the conference.). In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. Variety is a part of Penske Media Corporation. Reporters and photographers are only allowed to ask questions and take pictures from a handful of "press pens" small, fenced-in areas outside the Sun Valley Lodge and near the Sun Valley Inn. (The agenda and speakers are kept secret, though CNBC puts up an interview set to try to wrangle the more press-friendly attendees.). This year, Allen & Co. seemed determined to pick up right where it left off. The confabs 2019 attendee list included Zaslav, Comcast CEO Brian Roberts, Shari Redstone (before Viacom and CBS re-merged), Apple CEO Tim Cook, Spotify CEO Daniel Ek, Verizon CEO Hans Vestberg and IAC chairman Barry Diller. Allen Minnesota Power an ALLETE Company 30 West Superior Street Duluth, MN 55802 And for almost 40 years, its annual Sun Valley conference has been central to its mission. All Rights Reserved. And its not exactly a secret that the two Bobs are barely on speaking terms these days. 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. 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 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. 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. Our Rupert Murdoch didn't make the trip this year, for example. 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. 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. 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 (Pictured: Warner Bros. Thomas Allen's annual revenues 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. 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. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." There were also plenty of opportunities for golf and kayaking, or just strolling to take in the mountain air. Thats a deal thats expected to usher in more than 280-characters worth of changes at Twitter. 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. Discovery, may be among those commiserating about taking brutal equity losses. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 2023 The Hollywood Reporter, LLC. "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. Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. Note: Revenues for privately held companies are statistical evaluations. Although Warner Bros. 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. Its possible, for instance, that Bezos planned trip to space on July 20 could alter those plans. Instead on chilly mornings, guests wore puffier outerwear. It is "summer camp" after all, albeit for a rarefied set of people. By clicking Sign up, you agree to receive marketing emails from Insider 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. So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. 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. Webmtcexpo.com. Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. It's unlike any summer camp you have heard of. 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. [4][9][10][11][2], and more. 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). Kim Perry - Chief Financial Moguls, Deals And Patagonia Vests: A Look Inside 'Summer Camp For Billionaires', Barry Diller Headed 2 Hollywood Studios. 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. The conference has taken place in Sun Valley, Idaho for one week each July since 1983. kif (@kifleswing) July 10, 2019. Casual with lots of sweater vests and Patagonia. Duluth, MN 55802 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. The two brothers seem pretty far apart on politics these days, with James, freed from the family business, moving toward the center and Lachlan, now firmly ensconced at Fox, standing behind his news networks Trumpian embrace. 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. Click here to subscribe. 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 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. commitment to safety includes recognizing safe behaviors, having effective Verizons 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]. Or as close to it as possible. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. 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. 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. In fact, one of the favorite pastimes is to see who's spotted with whom. The topics are kept secret and confidential. 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. Beyond a schedule of presentations and discussions, the event features social time for moguls to mingle (and perhaps talk deals). 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? 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. Variety and the Flying V logos are trademarks of Variety Media, LLC. Full restaurants, hotel rooms and retail shops bring dollars. 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. As in years past, there were lavish lunches and dinners, albeit al fresco. 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. Participants in this year's conference had to be fully vaccinated, and upon arrival, everyone had to take a COVID-19 test. 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. All Rights Reserved. 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. Sign up for THR news straight to your inbox every day. 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. They have an extraordinarily powerful platform. 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. CEO of Facebook Mark Zuckerberg walks with COO of Facebook Sheryl Sandberg at the Allen & Company Sun Valley Conference on July 8 in Sun Valley, Idaho. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. 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. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman," Gasparino tweeted. About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. 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. 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. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. 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. 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Execs have been spotted arriving, checking in, and even heading out for "Love is in the air! Harry Griffith, Executive Director ofSun Valley Economic Developmenttold BoiseDev in 2019 there are direct, tangible impacts from the conference. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. [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. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres.