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People once begged to attend dealmaker Arie Burkov’s so-called “Media Slope” conference.
Now, Berkoff and his team are shopping around for conference participants, Fox Business has learned.
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In recent days, officials from Mr. Berkoff’s boutique investment bank, Lion Tree, have warned media executives and other tradesmen about a scaled-down conference scheduled for early March at its usual venue, the fashionable Deer Valley. We are secretly asking you if you are interested in joining us. Ski resort in Park City, Utah.
Aryeh Bourkoff, CEO of LionTree Advisors LLC, speaks in an interview with Bloomberg TV on Wednesday, December 20, 2017 in New York, USA. Bourkoff said 2018 will see a lot of M&A for content companies. Photographer: C (Getty Images)
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This event was a place to see and be seen. Top media executives such as Paramount’s Shari Redstone and Robert Bakish attended, as well as other business and financial moguls, including actress Margot Robbie and Open AI head Sam Altman. Celebrities also attended.
Birkhoff, who has become the king of media deals in recent years, has come to kiss the proverbial ring. His crowning achievement was serving as lead banker on AT&T’s $85 billion spinoff from WarnerMedia to Discovery, which was completed in 2022.
But Mr. Berkoff’s light has dimmed as media asset deals have struggled in an uncertain regulatory environment. LionTree has announced layoffs and continues to do so, according to his former employees.
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The company’s less lofty status has put a damper on what was once a star-studded conference, people familiar with the matter said. They say this year’s event will be more modest than in previous years.
The Paramount logo appears at Columbia Square on Sunset Boulevard in Hollywood, California on March 9, 2023. (Photo by PATRICK T. FALLON/AFP, Getty Images/Getty Images)
“We live in a different era,” said one media source.
A Lion Tree spokesperson had no comment, but did not deny that this year’s event will be smaller than previous years.
At its peak, the event, including last year’s conference, drew as many as 250 to 300 people. Lion Tree capped its guest list due to intense demand after the company began sending out letters notifying A-list invitees of their selection.
Some offered to pay tens of thousands of dollars for tickets.
This year’s potential invitees are being called and politely asked to attend. The company is telling people it expects only 150 people to attend.
It’s unclear whether the company will be able to persuade top media executives and celebrities to also attend. Corporate executives are just getting started and don’t have a guest list.
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The conference was planned at a time when dealing with the media was difficult. The Biden administration has blocked large-scale deals by companies such as Disney on antitrust grounds. One deal in the works involves Redstone buying the Paramount Media empire. Mr. Berkoff has been the company’s investment banker for many years.
This conference seems like the perfect place to announce upcoming deals. However, it is unclear whether Mr. Redstone and Paramount CEO Bakish will attend, according to a person familiar with the matter. A Paramount spokeswoman would not deny that Mr. Redstone and Mr. Bakish are unsure about their attendance.
