The latest news out of the always fruitful Allen & Co. conference in Sun Valley, Idaho, is that there isn’t any, as CBS chairman and CEO Les Moonves told Fox Business Network he has “no plans to make a move for another company.”
Moonves' no-deal stance echoesVerizon CEO Lowell McAdam, who put the kibosh on rumors that the telephone company was readying its war chest for a run at The Walt Disney Co., yesterday.
The Sun Valley conference, also known as billionaire’s day camp, has been a veritable petri dish of deals ever since 1995, when Disney initiated its purchase of Cap Cities/ABC at the conference that year. Since then such media mega deals as Comcast’s purchase of NBCUniversal, and Amazon’s purchase of the Washington Post were said to have sprung from seeds first planted in Sun Valley.
Go to multichannel.com for the full story.
