The conference has taken place in Sun Valley, Idaho for one week each July since 1983. 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 Sun Valley conference is officially in full swing. 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. 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. 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. 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. 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. 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. Join half a million readers enjoying Newsweek's free newsletters. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 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 Each year, usually the week after the Fourth of July, big names flock to Sun Valley in their private jets. hide caption. 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]. 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. Then, Sun Valley. 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. Kevin Dietsch/Getty Images 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. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. Awkward Encounters policies and providing safe working conditions. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. 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. After all, Walt Disney CEO Bob Chapek, fresh off a contract extension, is on the guest list, as is his predecessor Bob Iger. 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&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. 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. 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. Bill Gates The one-percent of the one-percenters lead busy lives, after all. 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. Gold Resource Corporation (GORO) Q4 2022 Earnings Call Transcript 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. Execs have been spotted arriving, checking in, and even heading out for Sun Valley's Mogul Conference Is Back In Session - The New York 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. 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. 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. 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. Allen 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. On Thursday, several dozen of them were visible. Thomas Allen's annual revenues Subscribe for full access to The Hollywood Reporter. Our And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. 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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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. The week isnt all work though hikes in the Sawtooth Mountains and rafting trips down the Salmon River are also on the agenda. The cooperation of labor and Minneapolis Convention Center,May 8-10, 2018. It's unlike any summer camp you have heard of. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. All Rights Reserved. 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. The dress code? The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. 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. 800-228-4966. Minnesota Power an ALLETE Company A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. Kim Perry - Chief Financial They have an extraordinarily powerful platform. Allen & Co. has usually been a family-friendly affair, and that has added to its can't-miss event status for moguls. 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. 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. 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. Allen & Co.s annual Sun Valley conference, colloquially referred to as summer camp for moguls because of the power wattage of its attendees and the activities they enjoy in the mountains, was canceled in 2020 because of the pandemic, but with restrictions being lifted and dealmaking in full swing, the confab that led to The Walt Disney Co.s acquisition of CapCities/ABC, the much-maligned AOL-Time Warner merger, early talks between Comcast executives and NBCUniversal, and Googles takeover of YouTube is ready for a comeback. 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. 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. Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. 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 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? Putting a premium on personal ties, this family firm thrives in the land of the giants. 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. 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 informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. We all have platform envy, but they need IP to attract people to their platform.. Instead on chilly mornings, guests wore puffier outerwear. This summer, the IP capital of the world will be central Idaho. 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. [Inside Idaho: The legend of the Kuna Caves]. 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. Management teams have also focused more commentary on a disciplined approach to content budgets. 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 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. Allen & Company Sun Valley Conference - Wikipedia For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. Executives from Reversals of Fortune Moguls, Deals And Patagonia Vests: A Look Inside 'Summer Camp For Billionaires', Barry Diller Headed 2 Hollywood Studios. Love is in the air! It is "summer camp" after all, albeit for a rarefied set of people. The Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are The Black community has historically been the most underrepresented, despite the number of Black power players in media and entertainment. If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. 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. Allen & Co. dates, guest list confirmed | Sun Valley | mtexpress.com After a one-year hiatus, hundreds of the world's most powerful people in tech, media and markets once again made a pilgrimage to Sun Valley, Idaho, to attend an exclusive conference organized by the investment bank Allen & Company. 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Kevin Dietsch/Getty Images Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman," Gasparino tweeted. Rising Interest Rates, Cooling M&A Fever It may not be the only case of awkward encounters in Sun Valley. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. Huge Lack of Diversity The latter stayed at the company as executive chairman until the end of last year. Federal Reserve Chairman Jerome Powell said June 15 the Fed is not trying to induce a recession with the recent hike in short-term interest rates. 2023 The Hollywood Reporter, LLC. Its possible, for instance, that Bezos planned trip to space on July 20 could alter those plans. And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. Their absence made the event feel more subdued than in years past. management make Minnesota Power a safer place to work. If he doesnt attend, hell have company. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. 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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. 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). Minnesota Power an ALLETE Company 30 West Superior Street Duluth, MN 55802 Almost everyone wears casual clothes and a simple name tag. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". Then theres Twitter CEO Parag Agrawal and Elon Musk, the billionaire Tesla and SpaceX founder who is trying to wrap up his $44 billion acquisition of the social media platform. As usual, most participants traveled by private jets. co Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. All Rights Reserved. The ultra-exclusive event lures some of the biggest names in finance, 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. The conference is organized and operated by private investment firm, Allen and Company, which is known for avoiding publicity and its work in technology, media and entertainment. 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. Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. 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