Shari Redstone, Barry Diller, Jeff Bezos and his fiancée Lauren Sanchez were among those stirring up buzz at Allen & Company’s Billionaires Summer Camp, which kicked off in Sun Valley, Idaho, on Wednesday.
Redstone’s deal to merge Paramount with David Ellison’s Skydance Media was a big talking point as business heavyweights gathered for the first day of celebrations at the luxury ski resort.
The agreement announced Monday includes a “go-shop” clause that gives Redstone 45 days to consider outside offers.
IAC Chairman Diller, 82, was reported last week to have been considering a bid for Paramount and had indicated he was not ruling it out.
A 45-day period is “a lifetime” in the business world, a modest Diller told reporters as he walked the grounds with his wife, fashion designer Diane von Furstenberg. According to Bloomberg.
Meanwhile, Warner Bros. Discovery CEO David Zaslav, who was reportedly an early bidder for Paramount but dropped out, responded cryptically to questions about the Paramount-Skydance deal upon arriving at the resort, calling the deal “good for the industry.”
The deal was the culmination of months of negotiations over Paramount’s future, notably stating that if Paramount received another offer and Skydance didn’t match it, it would have to pay a $400 million break-up fee.
Redstone, who was spotted wearing a pink fleece and sunglasses and holding a large coffee on her first day in Sun Valley, gave no indication as to whether she planned to accept any offers at the notoriously secretive event.
The media mogul at one point accidentally showed her wallet to a photographer, revealing her Connecticut driver’s license and what appeared to be gold and platinum American Express cards.
Elsewhere, Amazon founder Bezos was seen walking hand in hand with Sanchez, while supermodel Karlie Kloss and her husband, Thrive Capital president Josh Kushner, were seen exchanging smiles.
Sun Valley regular Sheryl Sandberg was seen holding hands with her husband, Tom Bernthal.
Greg Abel, chairman and CEO of Berkshire Hathaway Energy and a likely successor to Warren Buffett, was photographed taking a walk with his wife while the aging “Oracle of Omaha” skipped this year’s conference.
Zaslav met briefly with reporters upon arriving at the lodge the previous day.
Following Biden’s disastrous debate performance last month, Zaslav said he hasn’t decided whether he will support the current president or former President Donald Trump in the 2024 presidential election, but he stressed that both candidates should be friendly to business.
“If there’s an opportunity for deregulation, companies can consolidate and do what they need to do to get better.” Zaslav said.
