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. This years group of Ivory Tower denizens includes The University of Chicago President Bob Zimmer, Georgetown University President Jack DeGioia, and Nicholas Christakis, Yale Universitys Sterling Professor of Social and Natural Science. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. 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. (The agenda and speakers are kept secret, though CNBC puts up an interview set to try to wrangle the more press-friendly attendees.). After all, Walt Disney CEO Bob Chapek, fresh off a contract extension, is on the guest list, as is his predecessor Bob Iger. 2023 Variety Media, LLC. For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. [4][9][10][11][2], and more. 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. All Rights Reserved. And those exceptions are typically white women and Asian men. The Hollywood Reporter is a part of Penske Media Corporation. This year, Allen & Co. seemed determined to pick up right where it left off. Access your favorite topics in a personalized feed while you're on the go. Or as close to it as possible. 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. BoiseDevs Don Day contributed reporting. Its possible, for instance, that Bezos planned trip to space on July 20 could alter those plans. 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. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman," Gasparino tweeted. Then there's the appearances that attract speculation for other reasons. John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, 'The Covenant' Trailer: Jake Gyllenhaal Goes on Risky Rescue Mission in Guy Ritchie Thriller, Amazon Beats Expectations in Q4 Earnings, Advertising Revenue Surges to $11.6B, Rupert Murdoch, Fox Corp. 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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. Putting a premium on personal ties, this family firm thrives in the land of the giants. Kevin Dietsch/Getty Images Management teams have also focused more commentary on a disciplined approach to content budgets. hide caption. And though Rupert Murdoch may be sitting out this conference, sons James and Lachlan are expected to attend. policies and providing safe working conditions. Join half a million readers enjoying Newsweek's free newsletters. 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. Discovery CEO David Zaslav, Oprah Winfrey. 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. Part of what makes it so unique is the dress code. - 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. 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. 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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. 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 conference has taken place in Sun Valley, Idaho for one week each July since 1983. There appeared to be more security, and participants seemed less inclined to interact with journalists. Kevin Dietsch/Getty Images With that in mind, any photos or reports of Chapek and Iger chatting, or simply standing near each other, could draw attention. Or as close to it as possible. [Inside Idaho: The legend of the Kuna Caves]. The informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. Kevin Dietsch/Getty Images 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. 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. hide caption. 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. 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. 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. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. 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. Awkward Encounters Updated: 2:50 pm PT 6/8/21 to reflect that Nikki Haley will not attend the conference. Kevin Dietsch/Getty Images Minnesota Power an ALLETE Company 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. Webmtcexpo.com. 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. Executives from Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. Casual with lots of sweater vests and Patagonia. Discovery Content, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. 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Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. The annual Allen & Co. conference in Sun Valley, Idaho is taking place this week, attracting some of the tech industrys biggest heavyweights. Reversals of Fortune That all helps with the brand and marketing perspective.. Love is in the air! commitment to safety includes recognizing safe behaviors, having effective Click here to subscribe. 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. 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 dress code? The one-percent of the one-percenters lead busy lives, after all. 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. has long been a hallmark of the invite-only Allen event. And its not exactly a secret that the two Bobs are barely on speaking terms these days. The Black community has historically been the most underrepresented, despite the number of Black power players in media and entertainment. 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. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. 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. By clicking Sign up, you agree to receive marketing emails from Insider 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. In fact, one of the favorite pastimes is to see who's spotted with whom. Kim Perry - Chief Financial 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. 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. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. 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. All Rights Reserved. Other deal talk could this year move from hunting for new targets to focusing on getting the most out of past deals or existing business portfolios. As usual, most participants traveled by private jets. 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. In the end, the lure of Sun Valley was too strong, apparently. All Rights Reserved. Billionaires broke bread at tables near a pond outside the Sun Valley Inn. The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. 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 & Company has advised, helped found, and/or invested in companies including BET, InterActiveCorp, Oxygen Media, Discovery Communications, News Corporation, the Coca-Cola Corporation and Google.[12][13][14]. 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. Here are five takeaways from the 38th Sun Valley conference: 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. Last year, Zaslav came to town after having unveiled the megadeal with telecom giant AT&T for its entertainment arm, WarnerMedia. 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. (Jassy also made it to the conference.). hide caption. Beyond a schedule of presentations and discussions, the event features social time for moguls to mingle (and perhaps talk deals). 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. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. The same is true for two invited Meta Platforms executives: CEO Mark Zuckerberg and COO Sheryl Sandberg, who recently announced that she would step down this fall after 14 years at the company formerly known as Facebook. We all have platform envy, but they need IP to attract people to their platform.. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. David Zaslav at Allen & Company's Sun Valley Conference in 2021. From Warner Bros. If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. Allen & Co. has usually been a family-friendly affair, and that has added to its can't-miss event status for moguls. 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. 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. Address. kif (@kifleswing) July 10, 2019. This year, his visit follows the deal close and first moves to put his stamp on Warner Bros. Discoverys corporate structure, including the departure of various high-level executives. Although Warner Bros. 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. Insider reported the busy private jet traffic on Tuesday saw the U.S. Federal Aviation Administration ban other planes from the country's West Coast to as far as Michigan and Canada from departing. 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. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. 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. 1550 Humboldt Avenue. Subscribe for full access to The Hollywood Reporter. Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. This summer, the IP capital of the world will be central Idaho. Rupert Murdoch didn't make the trip this year, for example. 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 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. 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. Ted Sarandos and Reed Hastings, formerly masters of the universe, are now in the awkward position of leading Netflix during its new underdog phase (head of global TV Bela Bajarias word, not ours). 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. They own the world, he said at the time when asked about Amazon or Apple getting into the content business. Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. NPR scored its own exclusive interview with IAC Chairman Barry Diller, in which he argued the movie business "is over.". This year is unlikely to be different, even if the tone may be different from last year. 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. As in years past, there were lavish lunches and dinners, albeit al fresco. Moguls, Deals And Patagonia Vests: A Look Inside 'Summer Camp For Billionaires', Barry Diller Headed 2 Hollywood Studios. 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. 30 West Superior Street In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. Allen All Rights Reserved. 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. Paramount Global non-executive chair Shari Redstone, who is also traveling to Sun Valley, recently addressed the scale of the company created by the merger of CBS and Viacom, saying it has what it takes to succeed as it topped 62 million global streaming subscribers as of March. This 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. Variety and the Flying V logos are trademarks of Variety Media, LLC. 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. Before the conference got underway, the manager of the Friedman Memorial Airport in nearby Hailey, Idaho, said he expected more than 90 private planes. Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. And for almost 40 years, its annual Sun Valley conference has been central to its mission. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. Discoverys WarnerMedia deal, Amazons $8.45 billion takeover of MGM and the reopening of the economy are likely to feature among the topics of debate at the retreat, which traditionally starts after the Fourth of July holiday (Allen & Co., as it happened, was an adviser to Discovery on the WarnerMedia deal). 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. It is internationally acclaimed for bringing science-driven solutions to the But, while harder to measure, the brand cachet the conference brings helps build the areas economy. It's unlike any summer camp you have heard of. 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. A sign is seen at the entrance to the Sun Valley Resort ahead of the Sun Valley conference organized by Allen & Co. in Sun Valley, Idaho, on July 5. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. During a press conference announcing the deal May 17, Zaslav said it brings together the most valuable, important and exciting IP in the world., This summer, Zaslav and a slew of tech and media moguls once again are poised to board their private jets for Sun Valley, marking the return of horseback riding, rafting, guided hikes, golf and perhaps more billion-dollar deals. Allen & Co. was an underwriter on Google's and Facebook's IPOs. 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 story appeared in the May 26 issue of The Hollywood Reporter magazine. This year, however, the theme of the event may as well be two letters: IP. 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. Moguls gather for Allen & Co.s annual event in Sun Valley, On this Wikipedia the language links are at the top of the page across from the article title. 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. Idaho; venues include the Sun Valley Lodge (above). 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 Then, Sun Valley. 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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. 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. Participants in this year's conference had to be fully vaccinated, and upon arrival, everyone had to take a COVID-19 test. Execs have been spotted arriving, checking in, and even heading out for 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. Minneapolis Convention Center,May 8-10, 2018. And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. 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. 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. This year's conference came soon after Discovery announced a deal to buy WarnerMedia, which includes CNN, HBO and Warner Bros. Thats a deal thats expected to usher in more than 280-characters worth of changes at Twitter. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. 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. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. Whether Sun Valley or hoodies, some trends, as they say, never go out of fashion. Discovery, may be among those commiserating about taking brutal equity losses. Duluth, MN 55802 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.