Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. In the end, the lure of Sun Valley was too strong, apparently. Allen & Co. Sun Valley Conference | Wall Street Oasis Instead on chilly mornings, guests wore puffier outerwear. Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. This year is unlikely to be different, even if the tone may be different from last year. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. 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. 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. They have an extraordinarily powerful platform. Allen & Company is a private investment firm formed in 1922, with headquarters in New York City and London. 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. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. Minneapolis Convention Center,May 8-10, 2018. Discovery. West St Paul, MN 55118. Putting a premium on personal ties, this family firm thrives in the land of the giants. 2022 Minnesota Transportation Conference & Expo - RiverCentre 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. 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. Verizons Allen & Co. returns to Sun Valley, Idaho - BoiseDev Access your favorite topics in a personalized feed while you're on the go. 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. THOMAS ALLEN Revenue, Growth & Competitor Profile 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. Management teams have also focused more commentary on a disciplined approach to content budgets. WebThe Allen D. Leman Swine Conference is an annual educational event for the global swine industry. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Reversals of Fortune That all helps with the brand and marketing perspective.. 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. 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. Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. Allen The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. 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. Gold Resource Corporation (GORO) Q4 2022 Earnings Call Transcript kif (@kifleswing) July 10, 2019. And for almost 40 years, its annual Sun Valley conference has been central to its mission. 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. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. 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. 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. Note: Revenues for privately held companies are statistical evaluations. 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. 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.. And its not exactly a secret that the two Bobs are barely on speaking terms these days. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. 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. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." But the CEOs tenure has also come with some tumult, including its lacking corporate response to Floridas so-called Dont Say Gay bill that left employees outraged, Floridas move to strip Disney of its special tax district in the state and the recent debate about the firing of Peter Rice, its top TV executive. 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. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. All Rights Reserved. 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). Facebooks Mark Zuckerberg, Warren Buffet, and that Jeff Bezos guy to name a few. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. Thomas Allen's annual revenues 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. 2023 The Hollywood Reporter, LLC. 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 Sun Valley conference is officially in full swing. 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. Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. Silicon Valley Execs Visit Sun Valley 'Summer Camp for Billionaires' Because of pandemic restrictions, children were not allowed. 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. 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. 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. As usual, most participants traveled by private jets. 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. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. 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. 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. Here's A Peek Inside Sun Valley's 'Summer Camp For Billionaires' Expected to join him is his longtime right-hand man and deals advisor, Bruce Campbell, the merged entertainment powerhouses chief revenue and strategy officer. 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.. hide caption. So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. 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 Two weeks ago, UM Kansas City lost one of its two big-time scorers when commitment to safety includes recognizing safe behaviors, having effective Kevin Dietsch/Getty Images 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. 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. Sun Valley 2021: Allen & Co. Conference to Return Amid Almost everyone wears casual clothes and a simple name tag. 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. 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. Sun Valley 2022: What to Expect at Allen & Co. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. The dress code? Our The ultra-exclusive event lures some of the biggest names in finance, 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. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. All Rights Reserved. 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. The annual Allen & Co. conference in Sun Valley, Idaho, is officially underway. Sign up for THR news straight to your inbox every day. 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. 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. Before the conference got underway, the manager of the Friedman Memorial Airport in nearby Hailey, Idaho, said he expected more than 90 private planes. 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. They are both executives at the social media company, but they are unrelated. Sun Valley Conference 2021: Billionaire Summer Camp Explained 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. Rising Interest Rates, Cooling M&A Fever 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. Griffith said the influx of visitors may come back and continue spending dollars down the road. 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. 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. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. 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. Caterers took over a restaurant in the middle of the resort to prepare meals. 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! 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. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. 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. A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. Subscribe for full access to The Hollywood Reporter. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. 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. 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. About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. 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 topics are kept secret and confidential. 30 West Superior Street 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. This year's conference came soon after Discovery announced a deal to buy WarnerMedia, which includes CNN, HBO and Warner Bros. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. 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]. Afternoons are spent biking, whitewater rafting and barbecuing. There may be some tense moments by the duck pond. With that in mind, any photos or reports of Chapek and Iger chatting, or simply standing near each other, could draw attention. 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. The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. Allen 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. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. Kevin Dietsch/Getty Images 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. But, while harder to measure, the brand cachet the conference brings helps build the areas economy. 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? Thats a deal thats expected to usher in more than 280-characters worth of changes at Twitter. 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. This week, for example, Netflix CEO Ted Sarandos was seen walking with NBCUniversal CEO Jeff Shell. Discovery CEO David Zaslav). 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. 1550 Humboldt Avenue. "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. Executives from the biggest and most influential tech and media companies will gather behind closed doors. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. Welcome to the Leman Conference Home page | Allen D. Leman 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. 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. conference 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. 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. Huge Lack of Diversity Observer "Love is in the air! Join half a million readers enjoying Newsweek's free newsletters. It is "summer camp" after all, albeit for a rarefied set of people. 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. Then there's the appearances that attract speculation for other reasons. 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. One pending big deal that is still likely to draw much attention in Sun Valley this year is Tesla and SpaceX chief Elon Musks $44 billion planned takeover of social media giant Twitter. [Inside Idaho: The legend of the Kuna Caves]. 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. Sun Valley 2022 Allen & Co.: Media Moguls, Deals, Recession The Events - Allen & Company Or as close to it as possible. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. The cooperation of labor and 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. Inside The Sun Valley Event Known As 'Summer Camp For - NPR Part of what makes it so unique is the dress code. 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. It may not be the only case of awkward encounters in Sun Valley. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 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. Sun Valley's Mogul Conference Is Back In Session - The New York Execs have been spotted arriving, checking in, and even heading out for 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. Awkward Encounters Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain.
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