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. Kevin Dietsch/Getty Images Kim Perry - Chief Financial Officer. 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. 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. They are both executives at the social media company, but they are unrelated. Subscribe for full access to The Hollywood Reporter. 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. Verizons 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. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. Kevin Dietsch/Getty Images 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. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 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. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. hide caption. Events - Allen & Company 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. It is internationally acclaimed for bringing science-driven solutions to the There were also plenty of opportunities for golf and kayaking, or just strolling to take in the mountain air. Executives from Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. Two weeks ago, UM Kansas City lost one of its two big-time scorers when Rupert Murdoch didn't make the trip this year, for example. 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. Harry Griffith, Executive Director ofSun Valley Economic Developmenttold BoiseDev in 2019 there are direct, tangible impacts from the conference. 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. Join half a million readers enjoying Newsweek's free newsletters. From Warner Bros. The Allen & Co. conference typically features a heavy dose of politics and looks-ahead at technology trends in its morning conference sessions, which are Never mind if you are world-famous. 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. THOMAS ALLEN Revenue, Growth & Competitor Profile Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. [Inside Idaho: The legend of the Kuna Caves]. Allen & Co. returns to Sun Valley, Idaho - BoiseDev 1550 Humboldt Avenue. All rights reserved. The Hollywood Reporter is a part of Penske Media Corporation. The annual Allen & Co. conference in Sun Valley, Idaho is taking place this week, attracting some of the tech industrys biggest heavyweights. 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. 800-228-4966. Then there's the appearances that attract speculation for other reasons. As usual, most participants traveled by private jets. Discovery Content, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. 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Power players traditionally have used the exclusive and secretive event to casually lay the groundwork for M&A. Facebooks Mark Zuckerberg, Warren Buffet, and that Jeff Bezos guy to name a few. 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. Sun Valley Conference 2021: Billionaire Summer Camp Explained Kim Perry - Chief Financial The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. Rising Interest Rates, Cooling M&A Fever AT&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. 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. 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. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. The Hollywood Reporter is a part of Penske Media Corporation. 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. Participants in this year's conference had to be fully vaccinated, and upon arrival, everyone had to take a COVID-19 test. 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. All Rights Reserved. Love is in the air! 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. 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. The latter stayed at the company as executive chairman until the end of last year. management make Minnesota Power a safer place to work. 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. (Pictured: Warner Bros. Sun Valley Conference Returns With Media Moguls - Variety CBB conference tournament betting: Best bets for the SoCon and A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. The gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. Texas was the only league team with a shot at tying KU entering Wednesdays conference action. 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. hide caption. The one-percent of the one-percenters lead busy lives, after all. Afternoons are spent biking, whitewater rafting and barbecuing. A few regulars arent on the list this time. And those exceptions are typically white women and Asian men. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. 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). And of course, this being the top brass of tech, there were the hoodies, like the one spotted by 79-year-old Diller. Join Minnesota's transportation industry for three action-packed days of compelling presentations, thought-provoking panels, and the chance to network with like 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. Webmtcexpo.com. 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. 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. This year, Allen & Co. seemed determined to pick up right where it left off. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. Duluth, MN 55802 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. Allen & Co. was an underwriter on Google's and Facebook's IPOs. 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. 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. Updated: 2:50 pm PT 6/8/21 to reflect that Nikki Haley will not attend the conference. The ultra-exclusive event lures some of the biggest names in finance, tech, and media. Alex Murdaugh prosecutors speak to cheering crowd after guilty 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. This year, perhaps because Patagonia has decided to stop adding corporate logos to its clothing, fleece was out. Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. 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. 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.. Instead on chilly mornings, guests wore puffier outerwear. 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. 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. As in years past, there were lavish lunches and dinners, albeit al fresco. Full restaurants, hotel rooms and retail shops bring dollars. Billionaires broke bread at tables near a pond outside the Sun Valley Inn. But of course, moguls have products and services to sell, and you can't do that without some media exposure. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. 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. Minnesota Power an ALLETE Company 30 West Superior Street Duluth, MN 55802 Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". 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. 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. So next time there is a monumental deal in tech or media, its possible it sprouted in Sun Valley, Idaho. 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. Then, Sun Valley. That all helps with the brand and marketing perspective.. Subscribe for full access to The Hollywood Reporter. [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. 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. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. All Rights Reserved. Recession Blues Gold Resource Corporation (GORO) Q4 2022 Earnings Call Transcript This story appeared in the May 26 issue of The Hollywood Reporter magazine. 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 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). 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. Others getting the golden ticket and chance to trade their power suits for windbreakers and sensible chinos include Shake Shack creator Danny Meyer, Dell Technologies CEO Michael Dell, Palantir CEO Alex Karp, Breaking Bad and Better Call Saul creator Vince Gilligan, Murphy Brown star Candice Bergen, Activision Blizzard CEO Bobby Kotick, producer Brian Grazer, Casey Wasserman, the Los Angeles Olympic Organizing Committee president and head of marketing and management company Wasserman, and Kevin Sabet, a former White House drug control policy advisor who founded Smart Approaches to Marijuana, a political organization opposed to marijuana legalization and commercialization. The dress code? 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. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. (The agenda and speakers are kept secret, though CNBC puts up an interview set to try to wrangle the more press-friendly attendees.). Each year, usually the week after the Fourth of July, big names flock to Sun Valley in their private jets. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. And its not exactly a secret that the two Bobs are barely on speaking terms these days. 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.
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