Mogul Madness at Sun Valley Summit
The New York Times covered the Sun Valley Summit this year, gathering of bigwig media types from all over, from Rupert to Larry, Jerry to Meg, Terry to…Tony Blair? Hey, who invited that guy? (Party foul.)
The conference, once meant to be a haven for the Hollywood elite to discuss big ideas in a relaxed and remote atmosphere, is now known as a "birthing ground for mergers." Media mergers, that is. The kind we’re interested in, and the kind that have been making all the news this year and last. And in fact, there were high expectations coming into the weekend.
What deals would occur?
Who has the prettiest private jet?
And would Google and Viacom square off for a duel on the grassy knoll by the lodge’s romantic swan pond?
Who would you put your money on? Sure, Google’s got the technology, overqualified Ivy grads, and bouncy balls, but these old guys are tough. Viacom’s chairman, Sumner M. Redstone, has seen quite a few things in his 84 years, and according to the Times, seems like a man "who believes he has a firm grip on the levers that run the world." Indeed, I would not underestimate their ties to business and political leaders and the clout they have, not just among each other. They got the goods: tremendous assets and the ‘tude to back it up.
But deep down, they must be just a little bit scared. They can’t play dumb anymore, and they must know that the days of controlling consumers will soon be over. Especially when companies like Sling Media introduce a box that allows consumers to watch their home television programming anywhere
there is broadband.
…the version of the future that Slingbox and its ilk
represents — a frictionless environment where consumers are surrounded
by media at a time and place of their choosing — is a threat on all
fronts to the people who own the pipes and what goes through them.
But for all the hype, and all the supposed confrontation, there wasn’t any fighting, and there wasn’t any dealmaking. Perhaps there were a few whispers or behind-the-back winks that we’ll hear about later, and until then, we’ll just have to hold our breath.
