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. Minnesota Power places a high value on healthy, uninjured workers. There may be some tense moments by the duck pond. Previous conference guests have included Bill and Melinda Gates, Jeff Bezos, Elon Musk, Warren and Susan Buffett,[4] Tony Blair, Google founders Larry Page and Sergey Brin, Allen alumnus and former Philippine Senator Mar Roxas, former Google Chairman Eric Schmidt, Quicken Loans Founder & Chairman Dan Gilbert, Yahoo! 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. 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. From Warner Bros. 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. 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. 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. Bloomberg reported Comcast Corporation's takeover of NBCUniversal and Verizon Communications Inc.'s acquisition of AOL were also said to have been facilitated at the conference. 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. Discovery CEO David Zaslav). As in years past, there were lavish lunches and dinners, albeit al fresco. Kevin Dietsch/Getty Images Because of the pandemic, the family-run investment firm cancelled the event last year for the first time in its history. 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 has been dubbed the "summer camp for billionaires" due to its guest list. 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. The ultra-exclusive event lures some of the biggest names in finance, 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. 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. Top execs across media, tech and sports gathered for their annual event known as "summer camp for billionaires." In the end, the lure of Sun Valley was too strong, apparently. The private conference, which marks its 38th year, was canceled in 2020 due to the COVID-19 pandemic. hide caption. Click here to subscribe. 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. The topics are kept secret and confidential. Sign up for THR news straight to your inbox every day. Allen & Co. has usually been a family-friendly affair, and that has added to its can't-miss event status for moguls. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 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. 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. Minnesota Power an ALLETE Company Part of what makes it so unique is the dress code. 800-228-4966. Full restaurants, hotel rooms and retail shops bring dollars. West St Paul, MN 55118. 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. Because of the pandemic, more of the conference's proceedings were held outside. 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). That all helps with the brand and marketing perspective.. Join half a million readers enjoying Newsweek's free newsletters. 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. This year, the Wall Street Journal reports some sessions will be held outside, and other COVID-19 protocols will be in place. A previous version of this story incorrectly referred to Facebook CEO Mark Zuckerberg and Facebook COO Sheryl Sandberg as siblings. NPR scored its own exclusive interview with IAC Chairman Barry Diller, in which he argued the movie business "is over.". 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. hide caption. The dress code? If you turn on CNBC (in the) morning you are going to see the Sawtooths in the background, he said. 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. 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.. 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. Other pols and Beltway insiders include Council of Foreign Relations President Richard Haass, former U.S. Secretary of Transportation Elaine Chao, former U.S. Secretary of State James Baker, and William McRaven, the former Commander of the United States Special Forces. With that in mind, any photos or reports of Chapek and Iger chatting, or simply standing near each other, could draw attention. 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, tech, and media. 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 high-profile event saw an influx of private jets arriving at Friedman Memorial Airport near Sun Valley. 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. 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.. The gathering typically includes major political figures, business leaders, and figures in the philanthropic and cultural spheres.[2][3]. In the lobby of the Sun Valley Lodge, nurses from the world-renowned Mayo Clinic were on hand to administer them. The Allen & Company Sun Valley Conference is an annual media finance conference hosted and funded by private investment firm Allen & Company. 2023 The Hollywood Reporter, LLC. Insider reported the busy private jet traffic on Tuesday saw the U.S. Federal Aviation Administration ban other planes from the country's West Coast to as far as Michigan and Canada from departing. has long been a hallmark of the invite-only Allen event. David Zaslav at Allen & Company's Sun Valley Conference in 2021. 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. A-list guests have arrived in Sun Valley, Idaho, the site of the annual Allen & Co. conference. This week, he returns as full-blown Hollywood titan of an expanded empire as CEO of Warner Bros. Awkward Encounters He Now Says The Movie Business Is Dead, Patagonia has decided to stop adding corporate logos to its clothing. Instead on chilly mornings, guests wore puffier outerwear. 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