Government Regulations & The Future of the Media-The View from Sun Valley
In their own 'Private Idaho', the media moguls gathered here in Sun Valley attending the Allen & Co conferenceare on their own discovery and having plenty to say about the economy and government regulation and what it all means for the future of their industry.
*InterActive Corp (IACI) CEO Barry Diller: "How could you NOT be concerned about not knowing what the future is going to be in terms of regulations and things like that."
*Activision Blizzard CEO Bobby Kotick: "We have to be very concerned about the economic environment we're in today. We're the leader of free markets and any regulation that's contradictory to free markets is problematic."
*Third Avenue Management CEO David Barse: "Conflict between Wall Street and government; that conflict breeds entrepreneurship."
*WPP Group CEO Sir Martin Sorrell: "Business does not seem to be in particularly good odor as far as the administration, President Obama's administration's role in America. There are problems surrounding certain corporations in terms of reputation and crises. And there's general uncertainty about what the government is going to do about the deficit."
*Bob Johnson, RLJ Companies, BET founder: "When you get a group of business guys together you can't help but talk about government intrusion.... Changes in tax laws...the restructuring of private equity and hedge funds, those things raise a lot of fears about where the government is going and how much a role it's going to play in what businesses do best, and that's invest capital."
*David Zaslav, Discovery CEO: "The market is so unstable right now, I think there will be some trepidation about big deals and big assets, but on the ground right now, it feels a lot different from what you're reading. It still feels pretty good."