Redstone’s deal to merge Paramount with David Ellison’s Skydance Media was the big story as business bigwigs gathered for the first full day of festivities at the swanky ski resort.
The agreement announced Monday includes a “go shop” provision that gives Redstone 45 days to entertain outside offers.
Diller, the 82-year-old chairman of IAC, was reportedly considering a bid for Paramount as recently as last week — and hinted that he hasn’t ruled out the possibility.
The 45-day window is a “lifetime” in the business world, a coy Diller told reporters while walking the grounds with his wife, fashion designer Diane von Furstenberg, according to Bloomberg .
Meanwhile, Warner Bros. Discovery CEO David Zaslav — reportedly an early bidder for Paramount who dropped out of the process — cryptically replied to questions on the Paramount-Skydance deal upon his arrival at the resort, calling it “good for the industry.”
Barry Diller and his wife, fashion designer Diane von Furstenberg. Getty Images
The deal marked the culmination of months of back-and-forth negotiations about Paramount’s future. Notably, Paramount would have to pay a $400 million breakup fee if it receives another offer and Skydance opts not to match it.
Redstone, who wore a pink fleece and sunglasses on her first day at Sun Valley, was spotted with a large coffee in hand, though she gave no hint as to whether she intended to field offers at the notoriously secretive event.
Shari Redstone, President of National Amusements, and Carl Kawaja, chair of Capital Research and Management Company, in Sun Valley on Wednesday. Getty Images
The media heiress inadvertently gave photographers a glimpse of her wallet at one point, revealing what appeared to be American Express gold and platinum credit cards in addition to her Connecticut drivers license.
Shari Redstone gives the press a thumbs up on Tuesday evening. REUTERS Shari inadvertently gave photographers a glimpse of her wallet, revealing what appeared to be American Express gold and platinum credit cards. REUTERS Jeff Bezos and Lauren Sanchez are attending the Sun Valley Conference this year. REUTERS
Elsewhere, Amazon founder Bezos was seen walking hand-in-hand with Sanchez, while supermodel Karlie Kloss and her husband, Thrive Capital boss Josh Kushner, were seen exchanging a smile.
Josh Kushner and his wife, Karlie Kloss, attend the annual Allen and Co. Sun Valley conference. REUTERS
Sheryl Sandberg, another Sun Valley regular, held hands with her husband, Tom Bernthal.
Sheryl Sandberg and Tom Bernthal walk with Phil Deutch, a partner at NGP Energy Capital Management. REUTERS
Greg Abel, chairman and CEO of Berkshire Hathaway Energy and the heir apparent to Warren Buffett, was snapped walking with his wife while the elderly “Oracle of Omaha” sits out this year’s conference.
Zaslav briefly held court with reporters upon arrival at the lodge a day earlier.
David Zaslav talked about the 2024 presidential election and the Skydance-Paramount deal. REUTERS
On the heels of President Biden’s disastrous debate performance last month, Zaslav said he does not have a preference between the incumbent and former President Donald Trump in the 2024 presidential election — though he stressed that either candidate should be friendly toward businesses.
“We just need an opportunity for deregulation, so companies can consolidate and do what we need to to be even better,” Zaslav said .
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