Cash-rich Tim Cook is invited. Hard-hit Netflix is a takeover target. Speculation is rife.
From Jill Goldsmith's "Media Moguls To Gather At Annual Allen & Co. Sun Valley Retreat Amid Streaming Rethink, Economic Woes" posted Saturday in Deadline:
The mountains are as gorgeous as ever, the deal climate not so much as boutique investment bank Allen & Co. prepares to host its annual Sun Valley retreat. After guests arrive on Tuesday, official activities get under way Wednesday...
Fox CEO Lachlan Murdoch and COO John Nallen are confirmed. So is Sony Group Corp. CEO Ken Yoshida and Jim Ryan, head of PlayStation. Casey Wasserman and Mike Fries too.
Not all invitees necessarily attend. But Rupert Murdoch is a regular and Bob Chapek — a new three-year contract now in hand — was there last year. Invitees also include tech CEOs, among them Elon Musk, Apple’s Tim Cook, Meta’s Mark Zuckerberg, Amazon’s Andy Jassy and Alphabet’s Sundar Pichai. The list features an array of top-of-the-top of media chiefdom – companies that could or do bank with Allen & Co. — and executives from companies that are clients.
By putting execs in close proximity and in khakis, the Sun Valley conference is credited with planting the seeds of mergers – from Disney’s buying CapitalCities/ABC back 1995, to Amazon founder Jeff Bezos’ acquisition of The Washington Post in 2013...
Netflix is increasingly seen as a takeover target
My take: MacRumors Joe Rossignol nailed it...
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.