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. 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. From Warner Bros. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. 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. 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. Discovery's David Zaslav and Bruce Campbell to Walt Disney boss Bob Chapek as well as his predecessor Bob Iger media and tech titans will flock to the annual gathering organized by Allen & Co. First, July 4. 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. Allen & Co.s Sun Valley conference is set to return to the valley July 5-9, bringing with it some of the worlds most famous billionaires and business tycoons and Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. The Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are Allen (Jassy also made it to the conference.). The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. 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. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. Join half a million readers enjoying Newsweek's free newsletters. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. But of course, moguls have products and services to sell, and you can't do that without some media exposure. Access your favorite topics in a personalized feed while you're on the go. Billionaires broke bread at tables near a pond outside the Sun Valley Inn. 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. The latter stayed at the company as executive chairman until the end of last year. This year, Allen & Co. seemed determined to pick up right where it left off. 2023 The Hollywood Reporter, LLC. Its possible, for instance, that Bezos planned trip to space on July 20 could alter those plans. Management teams have also focused more commentary on a disciplined approach to content budgets. 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 & 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. 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. 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. [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. 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. But, while harder to measure, the brand cachet the conference brings helps build the areas economy. There were also plenty of opportunities for golf and kayaking, or just strolling to take in the mountain air. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. 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. 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. And though Rupert Murdoch may be sitting out this conference, sons James and Lachlan are expected to attend. 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 For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. The topics are kept secret and confidential. 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. 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. With that in mind, any photos or reports of Chapek and Iger chatting, or simply standing near each other, could draw attention. 2023 The Hollywood Reporter, LLC. And those exceptions are typically white women and Asian men. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". Kevin Dietsch/Getty Images hide caption. management make Minnesota Power a safer place to work. BoiseDevs Don Day contributed reporting. 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". 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. 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. Silicon Valley giants and media moguls alike have been flocking to Idaho this week for Allen & Co.'s annual conference at Sun Valley Resort. 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. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. Kevin Dietsch/Getty Images Almost everyone wears casual clothes and a simple name tag. The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. Note: Revenues for privately held companies are statistical evaluations. 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. 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. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. Executives from Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." The week isnt all work though hikes in the Sawtooth Mountains and rafting trips down the Salmon River are also on the agenda. [Inside Idaho: The legend of the Kuna Caves]. 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. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. 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. Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. Discovery. 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. 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. Executives from the biggest and most influential tech and media companies will gather behind closed doors. 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. Variety is a part of Penske Media Corporation. It's unlike any summer camp you have heard of. 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. Discovery Content, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. 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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). Minneapolis Convention Center,May 8-10, 2018. 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. 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. The event has been dubbed the "summer camp for billionaires" due to its guest list. Beyond a schedule of presentations and discussions, the event features social time for moguls to mingle (and perhaps talk deals). Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman pic.twitter.com/u9fXN7vD0t. The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. 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. Moguls gather for Allen & Co.s annual event in Sun Valley, A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain. 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. 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. Never mind if you are world-famous. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. All Rights Reserved. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. 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. Afternoons are spent biking, whitewater rafting and barbecuing. 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. Casual with lots of sweater vests and Patagonia. 84th Annual Minnesota Safety & Health ConferenceMinneapolis Convention Center,May 8-10, 2018 So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. The gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. Webmtcexpo.com. hide caption. Allen & Company is a private investment firm formed in 1922, with headquarters in New York City and London. Then, Sun Valley. - 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. Sign up for THR news straight to your inbox every day. From Warner Bros. 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. The informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. Thomas Allen's annual revenues Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. As in years past, there were lavish lunches and dinners, albeit al fresco. 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. The fact that both Musk and Twitter CEO Parag Agrawal are expected in town adds more intrigue. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. 30 West Superior Street West St Paul, MN 55118. It's reported the AOL-Time Warner deal was hatched at the conference. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. 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. Address. 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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. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres.[2][3]. Because of pandemic restrictions, children were not allowed. policies and providing safe working conditions. 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. A big question was whether Bezos would make an appearance. It is internationally acclaimed for bringing science-driven solutions to the The Sun Valley conference is officially in full swing. kif (@kifleswing) July 10, 2019. That all helps with the brand and marketing perspective.. Because of the pandemic, more of the conference's proceedings were held outside. As usual, most participants traveled by private jets. 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. 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. All Rights Reserved. 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. They have an extraordinarily powerful platform. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. WebMinnesota Safety & Health Conference Minneapolis Convention Center,May 8-10, 2018. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. All rights reserved. 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. Training Video Now Safety Training Videos, Mature driver classes (insurance discount), MN Network of Employers for Traffic Safety (NETS). We all have platform envy, but they need IP to attract people to their platform.. hide caption. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. 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. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman," Gasparino tweeted. And often, the no-shows can attract as much attention as those who are there. A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. Putting a premium on personal ties, this family firm thrives in the land of the giants. So next time there is a monumental deal in tech or media, its possible it sprouted in Sun Valley, Idaho. David Zaslav at Allen & Company's Sun Valley Conference in 2021. On this Wikipedia the language links are at the top of the page across from the article title. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. 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. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. On Thursday, several dozen of them were visible. 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. Join Minnesota's transportation industry for three action-packed days of compelling presentations, thought-provoking panels, and the chance to network with like Then there's the appearances that attract speculation for other reasons. Among members of the media attending the event were CNN's Anderson Cooper and Van Jones; Andrew Ross Sorkin of The New York Times and CNBC; CBS News's Gayle King; and The Washington Post columnist David Ignatius. Two weeks ago, UM Kansas City lost one of its two big-time scorers when 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. They own the world, he said at the time when asked about Amazon or Apple getting into the content business. 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 There may be some tense moments by the duck pond. If the job market sours and wages constrict, look for Joe and Jane Public to shed some streaming services and go to the movies even less than they already do. Griffith said the influx of visitors may come back and continue spending dollars down the road. 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. 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.
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