Allen & Co.'s annual conference—aka "summer camp for moguls"—in Sun Valley attracts the most powerful executives in media and technology, as well as politicians and policymakers. Why do they flock to this small town in Idaho? To talk deals, of course.
What a difference a year makes. U.S. media merger and acquisition activity has climbed to $101 billion so far in 2013, compared with just $28 billion this time last year, according to data from Dealogic. (And if Liberty Media's John Malone has anything to do with it, we'll see more consolidation in the cable industry in the near future.)
Deals, however, are only part of the story. The moguls come to reunite with old pals, hit the tennis courts and trade stories over drinks at the Duchin Lounge. Some, including Twitter's Jack Dorsey and Hollywood producer Brian Grazer, go skeet shooting.
Here, then, are glimpses of the most exclusive conference of the year.
By Mary Catherine Wellons
Posted 12 July 2013