“Sun Valley Summit: Where Billionaires, Media Titans, and Tech Moguls Meet for Deal-Making and Drama”

The Sun Valley resort in Idaho is abuzz with excitement as Allen & Co.’s annual gathering of billionaires kicks off this week. The exclusive event, known as the “summer camp for billionaires,” attracts the biggest names in media, tech, and business, who gather for a week of networking, dealmaking, and discussions on the latest trends and developments in their respective industries.

Among the key guests at this year’s conference is Shari Redstone, who recently agreed to sell her family’s National Amusements Inc., the controlling shareholder of Paramount Global, to David Ellison’s Skydance Media for $2.4 billion. Despite this deal, Redstone is expected to court other suitors for Paramount during the conference, as a 45-day “go shop” window allows for competing offers to be made.

IAC billionaire Barry Diller, who has been considering a bid for Paramount, may also make an appearance at Sun Valley, according to reports. OpenAI boss Sam Altman will be present as well, looking to secure more licensing deals for the firm’s chatbot technology.

NBA Commissioner Adam Silver will be under scrutiny as he finalizes a $76 billion media rights package with broadcast partners. The presence of David Zaslav, CEO of TNT parent Warner Bros. Discovery, adds an interesting dynamic, as TNT is reportedly on the verge of losing broadcast rights to the NBA.

Media moguls like Bob Iger, Rupert Murdoch, and Ted Sarandos are also on the guest list, along with tech titans such as Sundar Pichai, Tim Cook, and Bill Gates. Former Activision-Blizzard CEO Bobby Kotick, Uber’s Dara Khosrowshahi, and Palantir’s Alex Karp are among the other notable attendees.

The upcoming 2024 presidential election is expected to be a topic of discussion, with prominent Democrats like Chuck Schumer and Gretchen Whitmer in attendance. The absence of Warren Buffett, a regular at the conference, is notable, although other Berkshire Hathaway executives will be present.

As the conference unfolds, industry leaders will engage in discussions, negotiations, and perhaps even some unexpected developments that could shape the future of their respective sectors. The Sun Valley gathering remains a coveted opportunity for the elite to connect, collaborate, and make waves in the business world.