Rupert Murdoch, chairman and CEO of News Corporation, greets David Stern of the National Basketball Association after arriving at Sun Valley, while Lachlan Murdoch looks on. Photo: AP
Some of the world's most powerful media and technology leaders have begun arriving for the annual behind closed doors Sun Valley conference, put on by investment bank Allen & Co.
The event, described as a "summer camp for billionaires", has attracted the likes of Apple's Tim Cook and News Corp's Rupert Murdoch, along with a host of television network and movie studio owners, as well as dotcom heavy hitters.
The week-long event invite list includes names like Facebook chief Mark Zuckerberg, along with chief operating officer Sheryl Sandberg, Twitter founder Jack Dorsey and its current CEO Dick Costolo, as well as broadcasting heavyweights like NBC Universal chief Ron Meyer and investment giant Warren Buffett.
Intense speculation always surrounds the conference. It has regular conference sessions, which are all conducted off the record, but the real action happens in the private conversations away from prying eyes.
It is here that mergers, acquisitions and strategic partnerships are likely to be cooked up between traditional media giants and the internet's nouveau riche.
In US media circles, the future of online TV streaming service Hulu is understood to be a topic of much conjecture, and the appearance of Apple's chief Tim Cook is thought to be designed to allow him to work out TV content deals.
Speculation about Apple's plans to shake up the TV industry has swirled since before Steve Jobs' death and Mr Cook said the company has a "grand vision" for television at this year's annual AllThingsD conference.
Bloomberg has reported that, so far this year, more than 240 media deals have been struck, worth $US53 billion, with the Sun Valley get-together likely to herald more handshakes and contract signing.
Perhaps the biggest deal realised at the event was the $US186 billion Time Warner and AOL merger, which was reportedly hatched at the 1999 conference.
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