Kevin Dietsch/Getty Images Kevin Dietsch/Getty Images This year is unlikely to be different, even if the tone may be different from last year. All Rights Reserved. The week isnt all work though hikes in the Sawtooth Mountains and rafting trips down the Salmon River are also on the agenda. 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. (Jassy also made it to the conference.). 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 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. 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. Executives from the biggest and most influential tech and media companies will gather behind closed doors. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. 2023 The Hollywood Reporter, LLC. 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. 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. And for almost 40 years, its annual Sun Valley conference has been central to its mission. 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. 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. 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.. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. 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. WebThe Allen D. Leman Swine Conference is an annual educational event for the global swine industry. 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Variety is a part of Penske Media Corporation. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. 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. By clicking Sign up, you agree to receive marketing emails from Insider If he doesnt attend, hell have company. Webmtcexpo.com. The Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are 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. Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. Management teams have also focused more commentary on a disciplined approach to content budgets. That all helps with the brand and marketing perspective.. AT&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. 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. 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. Click here to subscribe. This years contingent from the Fourth Estate includes Diane Sawyer, Anderson Cooper, Van Jones, Tom Brokaw, Gayle King, New Yorker reporter Evan Osnos, New York Times columnist Thomas Friedman, Squawk Box co-hosts Becky Quick and Andrew Ross Sorkin, and Lionel Barber, the former editor of the Financial Times. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. 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. As in years past, there were lavish lunches and dinners, albeit al fresco. Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. 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. 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. 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. Although Warner Bros. Allen Instead on chilly mornings, guests wore puffier outerwear. Reversals of Fortune Or as close to it as possible. [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. Then, Sun Valley. 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. On Thursday, he and his girlfriend, Lauren Snchez, strolled past a group of journalists gathered outside the Sun Valley Lodge. 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. 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. 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. This year, Allen & Co. seemed determined to pick up right where it left off. All Rights Reserved. The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. 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. 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. On this Wikipedia the language links are at the top of the page across from the article title. BoiseDevs Don Day contributed reporting. Variety and the Flying V logos are trademarks of Variety Media, LLC. Power players traditionally have used the exclusive and secretive event to casually lay the groundwork for M&A. 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. 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. 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. commitment to safety includes recognizing safe behaviors, having effective 800-228-4966. 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. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. After all, Walt Disney CEO Bob Chapek, fresh off a contract extension, is on the guest list, as is his predecessor Bob Iger. 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.. hide caption. 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. 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. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. The Sun Valley conference is officially in full swing. It is "summer camp" after all, albeit for a rarefied set of people. 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. 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. 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. 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. David Zaslav at Allen & Company's Sun Valley Conference in 2021. 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? Awkward Encounters Minneapolis Convention Center,May 8-10, 2018. A few regulars arent on the list this time. hide caption. So next time there is a monumental deal in tech or media, its possible it sprouted in Sun Valley, Idaho. The cooperation of labor and It's reported the AOL-Time Warner deal was hatched at the conference. 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. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. 2023 Variety Media, LLC. 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". Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. Their absence made the event feel more subdued than in years past. Thomas Allen's annual revenues Casual with lots of sweater vests and Patagonia. WebMinnesota Safety & Health Conference Minneapolis Convention Center,May 8-10, 2018. 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. 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. 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 1550 Humboldt Avenue. 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. 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 Rising Interest Rates, Cooling M&A Fever 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. The latter stayed at the company as executive chairman until the end of last year. 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. The annual Allen & Co. conference in Sun Valley, Idaho is taking place this week, attracting some of the tech industrys biggest heavyweights. 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. 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. As usual, most participants traveled by private jets. 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In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. Never mind if you are world-famous. The Hollywood Reporter is a part of Penske Media Corporation. 84th Annual Minnesota Safety & Health ConferenceMinneapolis Convention Center,May 8-10, 2018 With few exceptions, the CEOs at the elite event are largely white males. 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. West St Paul, MN 55118. 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. Almost everyone wears casual clothes and a simple name tag. Phone: 218-722-2625 Putting a premium on personal ties, this family firm thrives in the land of the giants. 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 Texas was the only league team with a shot at tying KU entering Wednesdays conference action. 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. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. 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 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. Kim Perry - Chief Financial Officer. From Warner Bros. Afternoons are spent biking, whitewater rafting and barbecuing. Moguls gather for Allen & Co.s annual event in Sun Valley, 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. 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. 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 fact that both Musk and Twitter CEO Parag Agrawal are expected in town adds more intrigue. hide caption. The event is off-the-record, but some journalists are allowed behind the velvet rope, either to serve as moderators for talks or to source build. Kevin Dietsch/Getty Images Expected to join him is his longtime right-hand man and deals advisor, Bruce Campbell, the merged entertainment powerhouses chief revenue and strategy officer. policies and providing safe working conditions. 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. But of course, moguls have products and services to sell, and you can't do that without some media exposure. 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. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. (The agenda and speakers are kept secret, though CNBC puts up an interview set to try to wrangle the more press-friendly attendees.). [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. 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 So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. But, while harder to measure, the brand cachet the conference brings helps build the areas economy. Indiana Jones 5, Killers of the Flower Moon Weigh Festival Debuts, Harry Potter Star Evanna Lynch: I Wish People Would Give J.K. Rowling More Grace and Listen to Her, Netflix's Joey Sasso Explains Where His Relationship With Kariselle Snow Stands After 'Perfect Match, Reality TV Star Stephen Bear Jailed for 21 Months Over OnlyFans Sex Video, Tom Sizemore, Saving Private Ryan Actor, Dies at 61, Why Sylvester Stallone Is Not in 'Creed 3', Ke Huy Quan Lost His Health Insurance Right After Filming Everything Everywhere All at Once: Nobody Else Wanted to Hire Me, Willem Dafoe Made Emma Stone Slap Him 20 Times While Filming, Even Though He Was Off Camera: Thats What You Want From Actors, BTS J-Hope Sees Dream Collab Realized With On the Street Featuring J. 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Graham, Ivanka Trump and Jared Kushner,[8] Bob Iger, Warner Bros. The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. 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. Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain. 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 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. 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. Allen & Co. has usually been a family-friendly affair, and that has added to its can't-miss event status for moguls. This year, however, the theme of the event may as well be two letters: IP. Full restaurants, hotel rooms and retail shops bring dollars. Then there's the appearances that attract speculation for other reasons. 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. 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. Because of pandemic restrictions, children were not allowed. management make Minnesota Power a safer place to work. Access your favorite topics in a personalized feed while you're on the go. The invite-only conference gives executives a chance to meet, mingle and discuss deals in private, with all discussions and proceedings off the record. [Inside Idaho: The legend of the Kuna Caves]. 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. They own the world, he said at the time when asked about Amazon or Apple getting into the content business. 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. In the end, the lure of Sun Valley was too strong, apparently. The event has been dubbed the "summer camp for billionaires" due to its guest list. And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. The Hollywood Reporter is a part of Penske Media Corporation. Minnesota Power an ALLETE Company Join half a million readers enjoying Newsweek's free newsletters.

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