Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. It's unlike any summer camp you have heard of. 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). Variety is a part of Penske Media Corporation. Idaho; venues include the Sun Valley Lodge (above). This story appeared in the May 26 issue of The Hollywood Reporter magazine. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. On Thursday, he and his girlfriend, Lauren Snchez, strolled past a group of journalists gathered outside the Sun Valley Lodge. Kevin Dietsch/Getty Images (The agenda and speakers are kept secret, though CNBC puts up an interview set to try to wrangle the more press-friendly attendees.). Discovery CEO David Zaslav). By clicking Sign up, you agree to receive marketing emails from Insider In the end, the lure of Sun Valley was too strong, apparently. Minnesota Power places a high value on healthy, uninjured workers. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. 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. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres.[2][3]. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. 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. The Hollywood Reporter is a part of Penske Media Corporation. 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. 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 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. 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. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. 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 2007 - DealBook Blog - NYTimes.com", "Technology and Media VIPs Gather at Yearly Sun Valley Conference - Digital TV Life", "The Annual Summer Camp For Billionaires", "Murdoch speaks briefly to the media as he arrives the Allen and Company Sun Valley Conference in Sun Valley, Idaho", "Nike co-founder and chairman Knight attends the second day of the Allen and Company Sun Valley Conference in Sun Valley, Idaho", "Dell founder and CEO Dell attends the second day of the Allen and Company Sun Valley Conference in Sun Valley, Idaho", "Ivanka Trump and Jared Kushner hobnob in Sun Valley with the tech and media elite who rule our universe", "Inside the Private World of Allen & Co. While the topics to be discussed at the conference are not disclosed to the public, some guesses for what might be on the table can be made based on the guest list, Gura says. The invite-only conference gives executives a chance to meet, mingle and discuss deals in private, with all discussions and proceedings off the record. After all, Walt Disney CEO Bob Chapek, fresh off a contract extension, is on the guest list, as is his predecessor Bob Iger. 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. 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. 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. hide caption. Thats a deal thats expected to usher in more than 280-characters worth of changes at Twitter. They have an extraordinarily powerful platform. 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. The Sun Valley conference is officially in full swing. 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. kif (@kifleswing) July 10, 2019. Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain. 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. 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. Whether Sun Valley or hoodies, some trends, as they say, never go out of fashion. 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 [4][9][10][11][2], and more. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. West St Paul, MN 55118. 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? Last year, Zaslav came to town after having unveiled the megadeal with telecom giant AT&T for its entertainment arm, WarnerMedia. Minnesota Power an ALLETE Company [Inside Idaho: The legend of the Kuna Caves]. Casual with lots of sweater vests and Patagonia. 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. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". 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. The dress code? 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 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. 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. 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. 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. 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. So was Walt Disney's purchase of CapCities/ABC, and Comcast's deal for NBCUniversal. 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. Phone: 218-722-2625 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. 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. 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. hide caption. Executives from Putting a premium on personal ties, this family firm thrives in the land of the giants. This year, Allen & Co. seemed determined to pick up right where it left off. For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. 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. 2023 The Hollywood Reporter, LLC. 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. The Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are Sun Valley has often played host to presidential aspirants and government bigwigs such as Chris Christie and Cory Booker, neither of whom are on this years guest list. 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. 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. Subscribe for full access to The Hollywood Reporter. WebThe Allen D. Leman Swine Conference is an annual educational event for the global swine industry. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. Part of what makes it so unique is the dress code. 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. 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. Reversals of Fortune Never mind if you are world-famous. All Rights Reserved. The conference has taken place in Sun Valley, Idaho for one week each July since 1983. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. The ultra-exclusive event lures some of the biggest names in finance, tech, and media. On Thursday, several dozen of them were visible. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 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. 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. All rights reserved. Duluth, MN 55802 The event has been dubbed the "summer camp for billionaires" due to its guest list. 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. Beyond a schedule of presentations and discussions, the event features social time for moguls to mingle (and perhaps talk deals). Other pols and Beltway insiders include Council of Foreign Relations President Richard Haass, former U.S. Secretary of Transportation Elaine Chao, former U.S. Secretary of State James Baker, and William McRaven, the former Commander of the United States Special Forces. 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. And for almost 40 years, its annual Sun Valley conference has been central to its mission. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. Note: Revenues for privately held companies are statistical evaluations. 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. Silicon Valley giants and media moguls alike have been flocking to Idaho this week for Allen & Co.'s annual conference at Sun Valley Resort. 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. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. A big question was whether Bezos would make an appearance. Here are five takeaways from the 38th Sun Valley conference: Expected to join him is his longtime right-hand man and deals advisor, Bruce Campbell, the merged entertainment powerhouses chief revenue and strategy officer. It is "summer camp" after all, albeit for a rarefied set of people. Our They own the world, he said at the time when asked about Amazon or Apple getting into the content business. David Zaslav at Allen & Company's Sun Valley Conference in 2021. Awkward Encounters Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Webmtcexpo.com. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. 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. Management teams have also focused more commentary on a disciplined approach to content budgets. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. As usual, most participants traveled by private jets. 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. Instead on chilly mornings, guests wore puffier outerwear. 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. hide caption. The ultra-exclusive event lures some of the biggest names in finance, Participants in this year's conference had to be fully vaccinated, and upon arrival, everyone had to take a COVID-19 test. 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. On this Wikipedia the language links are at the top of the page across from the article title. Minneapolis Convention Center,May 8-10, 2018. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. 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. 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. 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. (Jassy also made it to 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. A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. 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 gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. 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). 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. Allen & Co. was an underwriter on Google's and Facebook's IPOs. 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 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. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. hide caption. This year, Allen & Co. seemed determined to pick up right where it left off. 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. 1550 Humboldt Avenue. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. Small town in Idaho says it is, The Mylk Box: Locally made nut milk shop opens in Boise, Indoor golf course will soon be in full swing in Boise, Blown away: Project aims to get more people shaping glass in Boise, Consumers file antitrust lawsuit to block Kroger Albertsons merger, Bed Bath and Beyond to close Boise store, holds liquidation sale, Coffee cafe and roastery to open in Watercooler building, Compromise: New version of self-storage unit tax bill gets the approval of Ada Assessor, moves to House floor, ACHD backtracks from dual 8th/9th Street bike lane pitch, approves design of two bike lanes on 8th Street near St. Joes School, Bill introduced requiring voter approval for any property tax increase from cities and counties, Lego poised to open store in Village at Meridian, Boise continues to negotiate with firefighters over pay & benefits in months of arbitration. But of course, moguls have products and services to sell, and you can't do that without some media exposure. Execs have been spotted arriving, checking in, and even heading out for Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. 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. We all have platform envy, but they need IP to attract people to their platform.. 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. And though Rupert Murdoch may be sitting out this conference, sons James and Lachlan are expected to attend. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman," Gasparino tweeted. 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. And those exceptions are typically white women and Asian men. This summer, the IP capital of the world will be central Idaho. The Hollywood Reporter is a part of Penske Media Corporation. Love is in the air! Top executives are poised to jet to Sun Valley for Allen & Co.s exclusive conference in July where power players lay the groundwork for blockbuster tie-ups. From Warner Bros. They are both executives at the social media company, but they are unrelated. Each year, usually the week after the Fourth of July, big names flock to Sun Valley in their private jets. Kim Perry - Chief Financial The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. 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. 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. With that in mind, any photos or reports of Chapek and Iger chatting, or simply standing near each other, could draw attention. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." This year, however, the theme of the event may as well be two letters: IP. The annual Allen & Co. conference in Sun Valley, Idaho, is officially underway. As in years past, there were lavish lunches and dinners, albeit al fresco. 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. 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. 800-228-4966. Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. 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. 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. 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. Variety is a part of Penske Media Corporation. A few regulars arent on the list this time. 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. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. 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. 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. 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. With few exceptions, the CEOs at the elite event are largely white males. has long been a hallmark of the invite-only Allen event. There may be some tense moments by the duck pond. Widely known as "summer camp for billionaires," participants from Facebook's Mark Zuckerberg to Apple's Tim Cook gathered for a week of outdoor activities like hiking and tennis and of course, networking and plenty of dealmaking.
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