Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. 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. This year, Allen & Co. seemed determined to pick up right where it left off. 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. policies and providing safe working conditions. Discovery is barely three months old in this configuration, rumors about the next big deal for the company (and whether it might involve Redstones assets) will follow Zaslav throughout the week. The one-percent of the one-percenters lead busy lives, after all. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. From Warner Bros. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman," Gasparino tweeted. 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. A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. 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. So next time there is a monumental deal in tech or media, its possible it sprouted 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. In the end, the lure of Sun Valley was too strong, apparently. 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. 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. 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. This story appeared in the May 26 issue of The Hollywood Reporter magazine. We all have platform envy, but they need IP to attract people to their platform.. 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. A big question was whether Bezos would make an appearance. 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. On Thursday, he and his girlfriend, Lauren Snchez, strolled past a group of journalists gathered outside the Sun Valley Lodge. Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. 84th Annual Minnesota Safety & Health ConferenceMinneapolis Convention Center,May 8-10, 2018 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. On this Wikipedia the language links are at the top of the page across from the article title. 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. Variety is a part of Penske Media Corporation. And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. The gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. Moguls gather for Allen & Co.s annual event in Sun Valley, On Thursday, several dozen of them were visible. 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. 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. All Rights Reserved. Tim Cook and Eddy Cue have arrived in Sun Valley, Idaho https://t.co/qiiZizaxFT pic.twitter.com/CHoozGCcL4 The dress code? The event has been dubbed the "summer camp for billionaires" due to its guest list. 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. 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. 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. 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 year, however, the theme of the event may as well be two letters: IP. Discovery CEO David Zaslav). 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. 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. Sign up for THR news straight to your inbox every day. The annual event, which was canceled last year due to the pandemic, has historically been a breeding ground for blockbuster deals: Jeff Bezos' purchase of The Washington Post was born out of conversations at Sun Valley, and Disney's $19 billion acquisition of ABC was hatched at Sun Valley as well. This year's conference came soon after Discovery announced a deal to buy WarnerMedia, which includes CNN, HBO and Warner Bros. 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). 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. Discovery CEO David Zaslav, Oprah Winfrey. All rights reserved. The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. Or as close to it as possible. The Black community has historically been the most underrepresented, despite the number of Black power players in media and entertainment. The informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. 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. That all helps with the brand and marketing perspective.. Discovery. Kim Perry - Chief Financial Officer. Subscribe for full access to The Hollywood Reporter. Duluth, MN 55802 This year is unlikely to be different, even if the tone may be different from last year. It's reported the AOL-Time Warner deal was hatched at the conference. 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. 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. 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 The conference has taken place in Sun Valley, Idaho for one week each July since 1983. 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. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. Kevin Dietsch/Getty Images 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. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. All Rights Reserved. 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 secretive and exclusive gathering of media, tech and other power brokers traditionally mixes presentations, discussions and such social activities as hiking, rafting and golf. 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. 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. 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. Casual with lots of sweater vests and Patagonia. Texas was the only league team with a shot at tying KU entering Wednesdays conference action. Cc @JeffBezos and Lauren Sanchez are back in #SunValley more now on @FoxBusiness @LizClaman pic.twitter.com/u9fXN7vD0t. They are both executives at the social media company, but they are unrelated. The Sun Valley conference is officially in full swing. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. 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. 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. 2023 Variety Media, LLC. All Rights Reserved. They have an extraordinarily powerful platform. Because of the pandemic, more of the conference's proceedings were held outside. Allen & Co. was an underwriter on Google's and Facebook's IPOs. About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. 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? 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. Allen & Company is a private investment firm formed in 1922, with headquarters in New York City and London. Thomas Allen's annual revenues And often, the no-shows can attract as much attention as those who are there. A few regulars arent on the list this time. 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. hide caption. 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. Recession Blues Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains.