Schmoozing and Frolicking in the Mountains
SUN VALLEY, Idaho — Here's a collection of snapshots, potshots and words from a few hotshots attending the 21st annual Allen & Co. conference, a gathering of media moguls and other business leaders that ended here late Saturday:
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Malone's the Favorite
Bets are on cable mogul John Malone.
The chairman of Liberty Media Corp. recently struck a mega-deal, plunking down $7.9 billion to control QVC, the hugely profitable home shopping cable network best known for selling flashy fake diamonds. Few think Malone's finished. The Denver entrepreneur acknowledged as much this week when he said he was still interested in the U.S. entertainment assets of Vivendi Universal.
Entertainment magnate Haim Saban seemed to speak for most when he predicted that Malone would win the bidding war for those properties and would then sell most if not all of them to a company such as Viacom Inc. or NBC.
"I'm gonna make a prediction," Saban said. "If Malone wants it, Malone gets it."
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Nike Fashion
Phil Knight, the chief executive of Nike Inc., showed up at the Sun Valley Resort on Thursday wearing a black sport jacket, bluejeans, oversized sunglasses -- and a prickly 5 o'clock shadow. When he emerged from the Friday morning presentations, he looked exactly the same. No sign of Chuck Taylor Converses, despite the fact that Nike last week purchased the privately held manufacturer of the beloved canvas shoes.
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Karmazin's Absence
Where was Mel?
When Viacom Inc. Chairman Sumner Redstone arrived in Sun Valley, he brought along his posse, perhaps the largest contingent from any one company outside of the conference hosts, Allen & Co.
Accompanying him were CBS chief Leslie Moonves, Paramount studio head Jonathan Dolgen and Chief Financial Officer Rich Bressler. But no Mel Karmazin, Redstone's highly respected second in command. It instantly set tongues wagging, particularly given earlier reports about a power struggle between the two leaders.
Redstone sought to put any rumors to rest: "Where I am, he doesn't have to be."
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Don't Ask
Wal-Mart Stores Inc. CEO H. Lee Scott stunned many in this high-rolling crowd when he said that he stays at the Days Inn when he travels and often bunks with his chief financial officer to save the company money.
