Sun Valley 2022 – a conference which has been described as ‘summer camp for billionaires’ – includes Apple CEO Tim Cook among the invitees. Both Cook and Apple Services head Eddy Cue attended last year’s event.
With a heavy attendance from the media sector, one key focus is expected to be the future of streaming video, with some speculating that Netflix could be an acquisition target for at least one of the companies attending …
Background
The Sun Valley Conference is an annual event hosted by a small but influential investment company, Allen & Co. The firm has been run by the same company since it was founded in 1922, and was an underwriter for both Google and Facebook when they went public, as well as an advisor for Facebook’s purchase of WhatsApp.
Sun Valley, named after the Idaho town in which it takes place, is an opportunity for tech and media companies to privately discuss matters of mutual interest.
But the conference also has a reputation for giving birth to acquisitions. While discretion is the watchword of the event, a number of mergers and acquisitions are rumored to have been prompted by discussions between CEOs at the event. Deals linked to previous Sun Valley get-togethers include:
- Amazon founder Jeff Bezos’ purchase of The Washington Post
- Warner Media/Discovery merger
- Amazon’s planned takeover of MGM
- Disney’s acquisition of CapitalCities/ABC
Netflix a possible acquisition target
Deadline reports that this year, Netflix is believed to be a potential target.
More generally, the future of the streaming video business is expected to be one of the key discussion topics at Sun Valley.
Tim Cook again invited
Apple CEO Tim Cook is again reported to be among those attending the conference.
9to5Mac’s Take on Sun Valley rumors
The combination of Cook’s attendance and Netflix being seen as an acquisition target will inevitably lead to speculation about Apple buying the streaming media giant. This would instantly make Apple TV+ the biggest name in the streaming video market.
So far, however, there has been little sign that Apple has any interest. The strategy of Apple TV+ has been quality over quantity, with the Cupertino company focusing on original content. It’s also a very low-margin business, which would be a surprising purchase for a company whose margins nudge close to 40%. Stranger things have happened, but any speculation is somewhat on the wilder side.
Photo (cropped): Thomas Hawk (CC BY-NC 2.0)