Join half a million readers enjoying Newsweek's free newsletters. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. 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. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. 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. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. 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. 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. 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. The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. In the end, the lure of Sun Valley was too strong, apparently. [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. Tim Cook and Eddy Cue have arrived in Sun Valley, Idaho https://t.co/qiiZizaxFT pic.twitter.com/CHoozGCcL4 Duluth, MN 55802 AT&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. They own the world, he said at the time when asked about Amazon or Apple getting into the content business. 800-228-4966. Casual with lots of sweater vests and Patagonia. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. The annual Allen & Co. conference in Sun Valley, Idaho is taking place this week, attracting some of the tech industrys biggest heavyweights. By clicking Sign up, you agree to receive marketing emails from Insider 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. Executives from the biggest and most influential tech and media companies will gather behind closed doors. 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. 2023 The Hollywood Reporter, LLC. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. 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). 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. 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.. Click here to subscribe. Moguls gather for Allen & Co.s annual event in Sun Valley, 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". 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. So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. 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. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. 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. 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. 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. A few regulars arent on the list this time. Expected to join him is his longtime right-hand man and deals advisor, Bruce Campbell, the merged entertainment powerhouses chief revenue and strategy officer. 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. 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 It's reported the AOL-Time Warner deal was hatched at the conference. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. [Inside Idaho: The legend of the Kuna Caves]. Kim Perry - Chief Financial Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." Love is in the air! And those exceptions are typically white women and Asian men. has long been a hallmark of the invite-only Allen event. Management teams have also focused more commentary on a disciplined approach to content budgets. 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. 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. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. If he doesnt attend, hell have company. A big question was whether Bezos would make an appearance. 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. And for almost 40 years, its annual Sun Valley conference has been central to its mission. And often, the no-shows can attract as much attention as those who are there. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. hide caption. 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. 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? The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. 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. Idaho; venues include the Sun Valley Lodge (above). That all helps with the brand and marketing perspective.. 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 gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. Never mind if you are world-famous. 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. 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. 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. 2023 Variety Media, LLC. 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. [4][9][10][11][2], and more. The Hollywood Reporter is a part of Penske Media Corporation. But, while harder to measure, the brand cachet the conference brings helps build the areas economy. But of course, moguls have products and services to sell, and you can't do that without some media exposure. The one-percent of the one-percenters lead busy lives, after all. If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. They have an extraordinarily powerful platform. 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 high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. 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. 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 is a part of Penske Media Corporation. Full restaurants, hotel rooms and retail shops bring dollars. Kevin Dietsch/Getty Images Billionaires broke bread at tables near a pond outside the Sun Valley Inn. 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. kif (@kifleswing) July 10, 2019. On Thursday, several dozen of them were visible. 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. 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. Some of the biggest names in technology, media and finance have gathered this week in Sun Valley, Idaho, for the latest edition of the annual conference hosted by Allen & Company, a private investment bank. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. Or as close to it as possible. 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! 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 Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are 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. Then, Sun Valley. The latter stayed at the company as executive chairman until the end of last year. 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 Because of the pandemic, more of the conference's proceedings were held outside. 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. Griffith said the influx of visitors may come back and continue spending dollars down the road. Kevin Dietsch/Getty Images Allen & Co. was an underwriter on Google's and Facebook's IPOs. 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. 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. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. Here are five takeaways from the 38th Sun Valley conference: Minnesota Power an ALLETE Company 30 West Superior Street Duluth, MN 55802 This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. 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. 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. 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. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. From Warner Bros. Access your favorite topics in a personalized feed while you're on the go. It may not be the only case of awkward encounters in Sun Valley. 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. Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. 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. (Jassy also made it to the conference.). The Sun Valley conference is officially in full swing. 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. Reversals of Fortune For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. The Hollywood Reporter is a part of Penske Media Corporation. After all, Walt Disney CEO Bob Chapek, fresh off a contract extension, is on the guest list, as is his predecessor Bob Iger. 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 West St Paul, MN 55118. BoiseDevs Don Day contributed reporting.
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