All Rights Reserved. Awkward Encounters Variety and the Flying V logos are trademarks of Variety Media, LLC. Discovery, may be among those commiserating about taking brutal equity losses. Then there's the appearances that attract speculation for other reasons. 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 invite-only conference gives executives a chance to meet, mingle and discuss deals in private, with all discussions and proceedings off the record. 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. 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 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. Participants in this year's conference had to be fully vaccinated, and upon arrival, everyone had to take a COVID-19 test. Duluth, MN 55802 This story appeared in the May 26 issue of The Hollywood Reporter magazine. And often, the no-shows can attract as much attention as those who are there. 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. 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. After all, Walt Disney CEO Bob Chapek, fresh off a contract extension, is on the guest list, as is his predecessor Bob Iger. 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. 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. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. In the end, the lure of Sun Valley was too strong, apparently. 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. A few regulars arent on the list this time. 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 This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. 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. Minnesota Power an ALLETE Company 30 West Superior Street Duluth, MN 55802 Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. Part of what makes it so unique is the dress code. He Now Says The Movie Business Is Dead, Patagonia has decided to stop adding corporate logos to its clothing. [Inside Idaho: The legend of the Kuna Caves]. That all helps with the brand and marketing perspective.. 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 informal setting and preponderance of casual wear has led some to dub the week-long event summer camp for moguls.. Join half a million readers enjoying Newsweek's free newsletters. 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. 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. 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 [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. After all, PwC in a recent report noted that deals activity has recently slowed among some of the major media companies, following a peak driven by content and technology acquisitions to fuel expansion of streaming services.. Idaho; venues include the Sun Valley Lodge (above). Moguls, Deals And Patagonia Vests: A Look Inside 'Summer Camp For Billionaires', Barry Diller Headed 2 Hollywood Studios. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. All Rights Reserved. Rising Interest Rates, Cooling M&A Fever About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. Rupert Murdoch didn't make the trip this year, for example. 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. 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. 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. 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. 84th Annual Minnesota Safety & Health ConferenceMinneapolis Convention Center,May 8-10, 2018 This summer, the IP capital of the world will be central Idaho. 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. If he doesnt attend, hell have company. There were also plenty of opportunities for golf and kayaking, or just strolling to take in the mountain air. 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 Hollywood Reporter is a part of Penske Media Corporation. As usual, most participants traveled by private jets. This week, for example, Netflix CEO Ted Sarandos was seen walking with NBCUniversal CEO Jeff Shell. 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. Discovery. There may be some tense moments by the duck pond. Kim Perry - Chief Financial Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. 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. 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. The topics are kept secret and confidential. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. 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. So next time there is a monumental deal in tech or media, its possible it sprouted in Sun Valley, Idaho. 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. 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). 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. In fact, one of the favorite pastimes is to see who's spotted with whom. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. 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. 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. 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.
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