Allen & Company is a private investment firm formed in 1922, with headquarters in New York City and London. David Zaslav at Allen & Company's Sun Valley Conference in 2021. Sheryl Sandberg, Reed Hastings, Ted Sarandos, Doug McMillon and dozens more have arrived so far. 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. 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. Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. 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. AT&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. Apple CEO Tim Cook attends the Allen & Company Sun Valley conference on July 8 in Sun Valley, Idaho. On this Wikipedia the language links are at the top of the page across from the article title. kif (@kifleswing) July 10, 2019. And its not exactly a secret that the two Bobs are barely on speaking terms these days. 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. The Hollywood Reporter is a part of Penske Media Corporation. In the end, the lure of Sun Valley was too strong, apparently. Thomas Allen's annual revenues Those sitting Sun Valley out this time include Rupert Murdoch and his son Lachlan (though ex-wife Wendi Deng Murdoch is named on the list), as well as billionaire entrepreneur Peter Thiel and Twitter CEO Jack Dorsey. The dress code? Rising Interest Rates, Cooling M&A Fever All Rights Reserved. WebSince its founding in 1982, the Allen & Company Sun Valley Conference has regularly drawn high-profile attendees such as Bill Gates, Warren Buffett, Rupert Murdoch, Barry The two brothers seem pretty far apart on politics these days, with James, freed from the family business, moving toward the center and Lachlan, now firmly ensconced at Fox, standing behind his news networks Trumpian embrace. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. 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 without including Byron Allen, Jay-Z, Robert F. Smith and other high-profile Black execs. 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. Heres a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains. Before the conference got underway, the manager of the Friedman Memorial Airport in nearby Hailey, Idaho, said he expected more than 90 private planes. Thats a deal thats expected to usher in more than 280-characters worth of changes at Twitter. Sun Valley, the annual event colloquially known as summer camp for billionaires, kicks off as usual on July 5. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". Power players traditionally have used the exclusive and secretive event to casually lay the groundwork for M&A. Address. Minnesota Power an ALLETE Company This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. [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. "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. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. Click here to subscribe. 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. This year's conference came soon after Discovery announced a deal to buy WarnerMedia, which includes CNN, HBO and Warner Bros. 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. "Love is in the air! 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. As usual, most participants traveled by private jets. This year, Allen & Co. seemed determined to pick up right where it left off. 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 Carolina". Kim Perry - Chief Financial Officer. The informal setting and preponderance of casual wear has led some to dub the week-long event 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. 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. 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 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]. Sign up for THR news straight to your inbox every day. If he doesnt attend, hell have company. Summit League (March 3) Early-round bet: (10) Nebraska-Omaha vs. (7) UM Kansas City. The ultra-exclusive event lures some of the biggest names in finance, 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 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. Or as close to it as possible. Programming took place in the Sun Valley Pavilion, an open-air amphitheater, against the backdrop of Dollar Mountain. Subscribe for full access to The Hollywood Reporter. The topics are kept secret and confidential. 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. 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. 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. 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. A big question was whether Bezos would make an appearance. 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. Love is in the air! 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. 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. 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. Join Minnesota's transportation industry for three action-packed days of compelling presentations, thought-provoking panels, and the chance to network with like Discovery's David Zaslav and Bruce Campbell to Walt Disney boss Bob Chapek as well as his predecessor Bob Iger media and tech This year is unlikely to be different, even if the tone may be different from last year. Variety and the Flying V logos are trademarks of Variety Media, LLC. Apple CEO Tim Cook waves at photographers as he attends the Sun Valley Conference on Thursday. 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 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. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." 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 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. The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. Part of what makes it so unique is the dress code. All Rights Reserved. Kim Perry - Chief Financial Caterers took over a restaurant in the middle of the resort to prepare meals. 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. Execs have been spotted arriving, checking in, and even heading out for 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. 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 Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. Afternoons are spent biking, whitewater rafting and barbecuing. This week, for example, Netflix CEO Ted Sarandos was seen walking with NBCUniversal CEO Jeff Shell. You are going to see Sun Valley and whats going on and the history of the (Allen & Co.) event. 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. The Hollywood Reporter is a part of Penske Media Corporation. Allen Texas was the only league team with a shot at tying KU entering Wednesdays conference action. Recession Blues 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. WebMinnesota Safety & Health Conference Minneapolis Convention Center,May 8-10, 2018. 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. 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. Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. The Sun Valley conference is officially in full swing. Discovery CEO David Zaslav). The fact that both Musk and Twitter CEO Parag Agrawal are expected in town adds more intrigue. 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. 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. Minneapolis Convention Center,May 8-10, 2018. Phone: 218-722-2625 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. And often, the no-shows can attract as much attention as those who are there. Outside the Sun Valley Lodge, NFL Commissioner Roger Goodell chatted with Robert Kraft, the owner of the New England Patriots. BoiseDevs Don Day contributed reporting. All Rights Reserved. I think any time Idaho is mentioned with this category of individual, whether its from an economic development perspective or a travel and tourism perspective, its obviously good for us, Borud said. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. management make Minnesota Power a safer place to work. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. Training Video Now Safety Training Videos, Mature driver classes (insurance discount), MN Network of Employers for Traffic Safety (NETS). 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. Shari Redstone, chairman of Paramount Global, and David Zaslav, CEO of the newly minted Warner Bros. We all have platform envy, but they need IP to attract people to their platform.. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. 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. Kevin Dietsch/Getty Images 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. So next time there is a monumental deal in tech or media, its possible it sprouted in Sun Valley, Idaho. But, while harder to measure, the brand cachet the conference brings helps build the areas economy. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. Griffith said the influx of visitors may come back and continue spending dollars down the road. Casual with lots of sweater vests and Patagonia. Perhaps the most noticeable change had to do with children, or rather, the lack thereof. The cooperation of labor and West St Paul, MN 55118. The latter stayed at the company as executive chairman until the end of last year. hide caption. Beyond a schedule of presentations and discussions, the event features social time for moguls to mingle (and perhaps talk deals). Because of the pandemic, more of the conference's proceedings were held outside. 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. Billionaires broke bread at tables near a pond outside the Sun Valley Inn. Then there's the appearances that attract speculation for other reasons. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres.[2][3]. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. 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. 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. They are both executives at the social media company, but they are unrelated. Our 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. Minnesota Power an ALLETE Company 30 West Superior Street Duluth, MN 55802 2023 The Hollywood Reporter, LLC. From Warner Bros. Almost everyone wears casual clothes and a simple name tag. And of course, there was also the dealmaking, all of it behind closed doors or more accurately, behind high hedge trees and heavy security. 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. [1] The conference has taken place in Sun Valley, Idaho for one week each July since 1983. Huge Lack of Diversity The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. 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. Sun Valley also played matchmaker for AOL and Time Warners unhappy union, which, until AT&Ts short-lived ownership of WarnerMedia, was far-and-away the worst thing that ever happened to the company that brothers Harry, Albert, Sam and Jack Warner founded in 1923 (it probably still is, but at least it now has a rival in the AT&T merger). Discovery CEO David Zaslav, Oprah Winfrey. Or as close to it as possible. 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. And though Rupert Murdoch may be sitting out this conference, sons James and Lachlan are expected to attend. 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. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. This year, however, the theme of the event may as well be two letters: IP. 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.. 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. The ultra-exclusive event lures some of the biggest names in finance, tech, and media. The one-percent of the one-percenters lead busy lives, after all. 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. Note: Revenues for privately held companies are statistical evaluations. Discovery. It's reported the AOL-Time Warner deal was hatched at the conference. But the step taken to slow the rise of inflation is certainly one that cant be ignored by the moguls, who may be doing less dealing as a consequence. Discovery, may be among those commiserating about taking brutal equity losses. 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. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. Full restaurants, hotel rooms and retail shops bring dollars. 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. 2023 The Hollywood Reporter, LLC. 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. And those exceptions are typically white women and Asian men. That all helps with the brand and marketing perspective.. The annual Allen & Co. conference in Sun Valley, Idaho is taking place this week, attracting some of the tech industrys biggest heavyweights.