The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres. All rights reserved. Harry Griffith, Executive Director ofSun Valley Economic Developmenttold BoiseDev in 2019 there are direct, tangible impacts from the conference. 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. 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.. Whether Sun Valley or hoodies, some trends, as they say, never go out of fashion. The dress code? Variety and the Flying V logos are trademarks of Variety Media, LLC. Subscribe for full access to The Hollywood Reporter. 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. It is "summer camp" after all, albeit for a rarefied set of people. With that in mind, any photos or reports of Chapek and Iger chatting, or simply standing near each other, could draw attention. Allen & Co.s Sun Valley conference is set to return to the valley July 5-9, bringing with it some of the worlds most famous billionaires and business tycoons and Bill Gates The conferences guest list is notably lacking in diversity, with only a few people of color and Black media leaders invited. 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. [Inside Idaho: The legend of the Kuna Caves]. Putting a premium on personal ties, this family firm thrives in the land of the giants. 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. The fact that both Musk and Twitter CEO Parag Agrawal are expected in town adds more intrigue. Before the conference got underway, the manager of the Friedman Memorial Airport in nearby Hailey, Idaho, said he expected more than 90 private planes. 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. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. 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. This story appeared in the May 26 issue of The Hollywood Reporter magazine. Click here to subscribe. Gold Resource Corporation (GORO) Q4 2022 Earnings Call Transcript The country isnt in the grips of a recession, but thats what many economists predict is on the horizon. 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. Allen & Co. has usually been a family-friendly affair, and that has added to its can't-miss event status for moguls. The gathering is geared towards one thing: building relationships that may one day pay off in the shape of a major deal, NPR noted. 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. The event has been dubbed the "summer camp for billionaires" due to its guest list. 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. If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. Allen & Co. Sun Valley Conference | Wall Street Oasis 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. It is internationally acclaimed for bringing science-driven solutions to the Discovery CEO David Zaslav). 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. The topics are kept secret and confidential. Events - Allen & Company Allen & Company - Wikipedia For reporters, the Allen & Co. Sun Valley Conference is a strange event to cover. West St Paul, MN 55118. 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. hide caption. Kevin Dietsch/Getty Images 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. Last year, Zaslav came to town after having unveiled the megadeal with telecom giant AT&T for its entertainment arm, WarnerMedia. Each year, usually the week after the Fourth of July, big names flock to Sun Valley in their private jets. The Hollywood Reporter is a part of Penske Media Corporation. hide caption. 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. Everyone Practices Cancel Culture | Opinion, Deplatforming Free Speech is Dangerous | Opinion, Former New York City Mayor Michael Bloomberg, Film and television producer Brian Grazer, Fashion designer and Alice + Olivia CEO Stacey Bendet. Although Warner Bros. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres.[2][3]. Idaho; venues include the Sun Valley Lodge (above). This year, however, the theme of the event may as well be two letters: IP. And its not exactly a secret that the two Bobs are barely on speaking terms these days. Deadline Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. 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. The high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. Alex Murdaugh prosecutors speak to cheering crowd after guilty Allen & Co. returns to Sun Valley, Idaho - BoiseDev A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. Part of what makes it so unique is the dress code. 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That all helps with the brand and marketing perspective.. Jeff Bezos for example supposedly bought The Washington Post when he was in Sun Valley. Never mind if you are world-famous. If he doesnt attend, hell have company. Join Minnesota's transportation industry for three action-packed days of compelling presentations, thought-provoking panels, and the chance to network with like 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. Gold Resource Corporation (GORO) Q4 2022 Earnings Call Transcript Sun Valley Conference Returns With Media Moguls - Variety A big question was whether Bezos would make an appearance. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. Updated: 12:32 pm PT 6/7/21 to reflect that John Stankey will not attend the conference. The conference has taken place in Sun Valley, Idaho for one week each July since 1983. The annual Allen & Co. conference in Sun Valley, Idaho is taking place this week, attracting some of the tech industrys biggest heavyweights. 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. Allen & Co. dates, guest list confirmed | Sun Valley | mtexpress.com 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. 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. Discovery, may be among those commiserating about taking brutal equity losses. Kevin Dietsch/Getty Images This year, Allen & Co. seemed determined to pick up right where it left off. With few exceptions, the CEOs at the elite event are largely white males. Power players traditionally have used the exclusive and secretive event to casually lay the groundwork for M&A. This summer, the IP capital of the world will be central Idaho. Beyond a schedule of presentations and discussions, the event features social time for moguls to mingle (and perhaps talk deals). 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.. 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. 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. The week isnt all work though hikes in the Sawtooth Mountains and rafting trips down the Salmon River are also on the agenda. Minnesota Power an ALLETE Company 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. Matt Borud, Marketing and Innovation Administrator for the Idaho Department of Commerce says the exposure and attention have positive impacts for tourism in Sun Valley, and business in Idaho in general. IAC Chairman Barry Diller walks to a morning session at the Allen & Company Sun Valley Conference on Wednedsday in Sun Valley, Idaho. All Rights Reserved. And though Rupert Murdoch may be sitting out this conference, sons James and Lachlan are expected to attend. 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. 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. Then, Sun Valley. 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. THOMAS ALLEN Revenue, Growth & Competitor Profile Sun Valley Conference 2021: Billionaire Summer Camp Explained Here are five takeaways from the 38th Sun Valley conference: 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. [2019: Annual spotlight on Sun Valley helps Idahos economy in ways large and small]. 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. John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, 'The Covenant' Trailer: Jake Gyllenhaal Goes on Risky Rescue Mission in Guy Ritchie Thriller, Amazon Beats Expectations in Q4 Earnings, Advertising Revenue Surges to $11.6B, Rupert Murdoch, Fox Corp. 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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. 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. 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. Afternoons are spent biking, whitewater rafting and barbecuing. hide caption. 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 Sheryl Sandberg, chief operating officer of Facebook Inc., attends the Allen & Company Sun Valley Conference on Wednesday in Sun Valley, Idaho. (The agenda and speakers are kept secret, though CNBC puts up an interview set to try to wrangle the more press-friendly attendees.). 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. The cooperation of labor and 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. There may be some tense moments by the duck pond. We all have platform envy, but they need IP to attract people to their platform.. Allen & Co. has not officially confirmed the conferences return, but a check of Sun Valley Resorts reservation system which books the Lodge, Inn and more accommodations shows the week after July 4 is blocked out, and the local newspaper Idaho Mountain Express reported that the conference would return. Facebook CEO Mark Zuckerberg walks with Facebook COO Sheryl Sandberg at the Sun Valley conference. (Jassy also made it to the conference.). 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. They will hit the posh resort at a time when many analysts and insiders believe that Hollywood and Silicon Valley are in the midst of an unprecedented period of consolidation. Because so much of the conference took place outside this year, reporters were kept even farther away than usual. co Kim Perry - Chief Financial Officer. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires.". All Rights Reserved. Updated: 2:50 pm PT 6/8/21 to reflect that Nikki Haley will not attend the conference. Thomas Allen's annual revenues 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. AT&T chief John Stankey, who negotiated the pact with Zaslav, was invited, but will not attend. The annual event some call mogulfest, hosted by Allen & Company, is where major deals are struck and corporate disputes are settled or sparked. 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. 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. Casual with lots of sweater vests and Patagonia. Training Video Now Safety Training Videos, Mature driver classes (insurance discount), MN Network of Employers for Traffic Safety (NETS). Welcome to the Leman Conference Home page | Allen D. Leman Vince Gilligan, Shari Redstone and Bob Chapek also make the cut. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. Gold Resource Corporation (NYSE:GORO) Q4 2022 Earnings Conference Call March 3, 2023 10:00 AM ETCompany Participants. Phone: 651-291-9150/1-800-444-9150 | Email: Minnesota Safety Council. 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. 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. 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 year is unlikely to be different, even if the tone may be different from last year. 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. Variety Amazon founder Jeff Bezos was also seen at the conference in a video posted by a senior correspondent for Fox Business Network, Charles Gasparino. 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. And for almost 40 years, its annual Sun Valley conference has been central to its mission. 2018 Minnesota Safety & Health Conference: Minnesota Power an 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 Huge Lack of Diversity 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. 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. 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. Minnesota Power places a high value on healthy, uninjured workers. Our 2023 Variety Media, LLC. 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. - June 28, 2004", "Colombia's President Alvaro Uribe attends 2009 Allen & Company Sun Valley Conference", "Allen and Co. Sun Valley Conference: Gates, Murdoch and ZuckerbergOh My", "idaho mountain express: Media moguls alight in valley Allen + Co opens 22nd annual conference: Friday, July 2, 2004", "Idaho Mountain Express: Herbert Allen Jr. comes calling again - July 5, 2006", "Media moguls focus on digital dollars at Sun Valley", "Inside the Private World of Allen & Co. Behind closed doors, guests are treated to talks on everything from global terrorism to public education to global warming. 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. About BoiseDevContact: [emailprotected]Privacy policy | Terms, Anna Daly is a reporter for BoiseDev. 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 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. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. conference On this Wikipedia the language links are at the top of the page across from the article title. On Thursday, several dozen of them were visible. The invite-only conference gives executives a chance to meet, mingle and discuss deals in private, with all discussions and proceedings off the record. 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. Allen The annual Allen & Co. conference in Sun Valley, Idaho, is officially underway. Over the years, industry titans have also enjoyed bike rides, white-water rafting and other activities. 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