The invite-only conference gives executives a chance to meet, mingle and discuss deals in private, with all discussions and proceedings off the record. [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. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. 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. The Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are As usual, most participants traveled by private jets. This year's conference came soon after Discovery announced a deal to buy WarnerMedia, which includes CNN, HBO and Warner Bros. Moguls, Deals And Patagonia Vests: A Look Inside 'Summer Camp For Billionaires', Barry Diller Headed 2 Hollywood Studios. All rights reserved. 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. Thats a deal thats expected to usher in more than 280-characters worth of changes at Twitter. 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. Afternoons are spent biking, whitewater rafting and barbecuing. 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. The informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. [Inside Idaho: The legend of the Kuna Caves]. WebMinnesota Safety & Health Conference Minneapolis Convention Center,May 8-10, 2018. 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. The annual Allen & Co. conference in Sun Valley, Idaho, is officially underway. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. Kevin Dietsch/Getty Images It may not be the only case of awkward encounters in Sun Valley. 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. Discovery CEO David Zaslav, Oprah Winfrey. In fact, one of the favorite pastimes is to see who's spotted with whom. After that, Chapek put his stamp on the Mouse House by filling key roles that had been held by close Iger advisors and outlining new strategic pillars for the conglomerate. But of course, moguls have products and services to sell, and you can't do that without some media exposure. The ultra-exclusive event lures some of the biggest names in finance, Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. Full restaurants, hotel rooms and retail shops bring dollars. And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. It is "summer camp" after all, albeit for a rarefied set of people. Kevin Dietsch/Getty Images 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 Power players traditionally have used the exclusive and secretive event to casually lay the groundwork for M&A. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. They are both executives at the social media company, but they are unrelated. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. BoiseDevs Don Day contributed reporting. The cooperation of labor and Discovery CEO David Zaslav). 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. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. Phone: 218-722-2625 Then there's the appearances that attract speculation for other reasons. 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. 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). 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. 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. Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. 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. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. Webmtcexpo.com. 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. - 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. 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. Management teams have also focused more commentary on a disciplined approach to content budgets. kif (@kifleswing) July 10, 2019. 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. 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. 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. Each year, usually the week after the Fourth of July, big names flock to Sun Valley in their private jets. Facebooks Mark Zuckerberg, Warren Buffet, and that Jeff Bezos guy to name a few. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. Because of the pandemic, more of the conference's proceedings were held outside. 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 conference has taken place in Sun Valley, Idaho for one week each July since 1983. 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. 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Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. 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 The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 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. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. 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. 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. Whether Sun Valley or hoodies, some trends, as they say, never go out of fashion. 30 West Superior Street Contact her at, Annual spotlight on Sun Valley helps Idahos economy in ways large and small, Inside Idahos native fisher; and why its name is ironic, ICYMI: Idaho lake known for world record catch draws anglers, ICYMI: The Center of the Universe? 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 Texas was the only league team with a shot at tying KU entering Wednesdays conference action. 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. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. 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". policies and providing safe working conditions. Moguls gather for Allen & Co.s annual event in Sun Valley, 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 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. 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. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". 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. 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. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. Griffith said the influx of visitors may come back and continue spending dollars down the road. 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. So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. Executives from Never mind if you are world-famous. 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. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. On Thursday, several dozen of them were visible. 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. 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! 2023 Variety Media, LLC. All Rights Reserved. The dress code? Silicon Valley giants and media moguls alike have been flocking to Idaho this week for Allen & Co.'s annual conference at Sun Valley Resort. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres.[2][3]. Variety is a part of Penske Media Corporation. Subscribe for full access to The Hollywood Reporter. By clicking Sign up, you agree to receive marketing emails from Insider Subscribe for full access to The Hollywood Reporter. Rising Interest Rates, Cooling M&A Fever Variety is a part of Penske Media Corporation. 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. Discovery, may be among those commiserating about taking brutal equity losses. 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. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. This is driving significant increases in content spending (including local content) globally along with an uptick in churn for leading services such as Netflix (and the majority of net add growth skewing towards newer entrants)., Sign up for THR news straight to your inbox every day. 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. If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. Putting a premium on personal ties, this family firm thrives in the land of the giants. Participants in this year's conference had to be fully vaccinated, and upon arrival, everyone had to take a COVID-19 test. Minnesota Power an ALLETE Company 30 West Superior Street Duluth, MN 55802 Reversals of Fortune Our 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. 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. commitment to safety includes recognizing safe behaviors, having effective Sun Valley, the annual event colloquially known as summer camp for billionaires, kicks off as usual on July 5. 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. Updated: 2:50 pm PT 6/8/21 to reflect that Nikki Haley will not attend the conference. 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. 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. 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. All Rights Reserved. They own the world, he said at the time when asked about Amazon or Apple getting into the content business. While folks who arent invited cant get into the conference itself, media camp outside the event and wait for a chance to catch photos of stars like Oprah Winfrey. 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. hide caption. This year is unlikely to be different, even if the tone may be different from last year. About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. 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. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. (Pictured: Warner Bros. Indiana Jones 5, Killers of the Flower Moon Weigh Festival Debuts, 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. So next time there is a monumental deal in tech or media, its possible it sprouted 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. Minnesota Power places a high value on healthy, uninjured workers. In the end, the lure of Sun Valley was too strong, apparently. 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And its not exactly a secret that the two Bobs are barely on speaking terms these days. And at time when some journalists can be as famous, or even more famous than some of the participants, it's natural that some members of the media would attend not to cover the events, but to hobknob as participants. The 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. This story appeared in the May 26 issue of The Hollywood Reporter magazine. 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Join Minnesota's transportation industry for three action-packed days of compelling presentations, thought-provoking panels, and the chance to network with like Variety and the Flying V logos are trademarks of Variety Media, LLC. 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 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. Minneapolis Convention Center,May 8-10, 2018. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. 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. Before the conference got underway, the manager of the Friedman Memorial Airport in nearby Hailey, Idaho, said he expected more than 90 private planes. 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. 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. 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 This year, however, the theme of the event may as well be two letters: IP. Thomas Allen's annual revenues And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. He Now Says The Movie Business Is Dead, Patagonia has decided to stop adding corporate logos to its clothing. Discovery's David Zaslav and Bruce Campbell to Walt Disney boss Bob Chapek as well as his predecessor Bob Iger media and tech Instead on chilly mornings, guests wore puffier outerwear. Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. The topics are kept secret and confidential. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." Academia may not boast the kind of salaries that are usually a requirement for entry at Sun Valley, but the professors and school presidents are useful for the panel discussions that form much of the weeks activities. Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. "Love is in the air! Huge Lack of Diversity 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. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. Allen & Co. has usually been a family-friendly affair, and that has added to its can't-miss event status for moguls. Rupert Murdoch didn't make the trip this year, for example. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. [4][9][10][11][2], and more. hide caption. 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. That all helps with the brand and marketing perspective.. Part of what makes it so unique is the dress code. 2023 Variety Media, LLC. 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. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. All Rights Reserved. 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. 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. Awkward Encounters From Warner Bros. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. The one-percent of the one-percenters lead busy lives, after all. Recession Blues 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. The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic.