What happened at Sun Valley 2025?A roundup of the biggest news and deals

This weekend, dozens of CEOs, tech tycoons, and billionaires packed their bags and jetted out of Sun Valley, Idaho, after the annual four-day Sun Valley conference (nicknamed “summer camp for billionaires”) came to a close.

Hosted by the investment banking firm Allen & Co., the conference is essentially a yearly opportunity for some of the world’s most influential businesspeople to rub elbows and talk shop over scenic mountain views.

Aside from giving its attendees a chance to break out their best polos and khakis for an expectant clutch of paparazzi, the secretive retreat has also served as the site of some of the most significant deals in the past four decades. Those include Disney’s acquisition of ABC in 1995, Google’s acquisition of YouTube in 2006, and Amazon founder Jeff Bezos’s purchase of The Washington Post in 2013.

This year’s star-studded cast included OpenAI’s Sam Altman, Apple’s Tim Cook, and Microsoft’s Satya Nadella, to name a few. Here’s everything we know about the 2025 conference so far:

Skydance discusses purchase of ‘The Free Press’

According to a report from The New York Times, one potential deal on the table at this year’s gathering was an acquisition of the online publication The Free Press by the media company Skydance. 

David Ellison, Skydance’s CEO, attended the conference alongside Bari Weiss, cofounder of The Free Press. Sources close to the discussion told The Times that Ellison has previously offered Weiss a “wide variety of options” in terms of potential working arrangements were Skydance to purchase The Free Press—including one scenario in which Weiss would take a major role in shaping the editorial direction of CBS News.

Still, no official agreement has been announced, and The Times did not learn the terms of any potential deals. Fast Company reached out to Skydance and The Free Press for comment.

In the meantime, Ellison is also in the midst of attempting to close a proposed merger with Paramount.

Disney looking to sell A&E Global Media

On July 8, just before the start of this year’s Sun Valley conference, Disney and Hearst, co-owners of the cable network A&E Global Media, announced that they were looking to sell the network.

The news follows a larger trend of media companies like Comcast and Warner Bros. Discovery spinning off their respective cable networks in an attempt to purge underperforming arms of the business, as traditional pay TV continues down a path of rapid decline.

It’s quite a turn from just a few years ago, when media companies were opting to acquire their rivals in what Variety has called an “arms race” to compete with streaming competitors.

In the wake of the news that A&E is seeking a new buyer, Disney CEO Bob Iger attended Sun Valley alongside media moguls including Comcast head Brian Roberts, Sony Pictures Entertainment CEO Ravi Ahuja, and Warner Bros. Discovery head David Zaslav.

One topic was top of mind

At the end of the conference, Business Insider caught up with Flowcode CEO Tim Armstrong, who has attended Sun Valley annually for more than a decade. Armstrong shared that, unsurprisingly, this year’s hottest topic of discussion was AI.

It was the “1,000-pound gorilla” in “every conversation, every meeting,” Armstrong told the publication, adding that executives spent a good chunk of the retreat sharing their ideas on how to implement new AI tools.

The year of weird sunglasses and Western cosplay

While the general public waits to hear more details about deals made behind closed doors at this year’s conference, there is one element of the retreat that the average American had full access to: the fashion. 

This year, like the years before it, saw an excess of bland polo shirts, jeans, ball caps, and button-downs.

In an interview with Fast Company, L.A.-based personal stylist Mary Komick explained that “quiet luxury” is the generally accepted dress code at Sun Valley, with execs opting for neutral shades and understated cuts.

“They’re showing off to each other, with their stealth luxe style noticeably recognized by those in these circles,” Komick noted. 

Still, there were a couple of new trends to emerge this year. Ivanka Trump and Spanx founder Sara Blakley both opted for Western-inspired accessories, while several other attendees stepped out in simple outfits accented with over-the-top sunglasses, including Altman (who donned a $400 pair of sunnies inspired by ‘70s ski masks) and Ferrari chairman John Elkann (who wore a vintage pair of Tom Fords that were chunky enough to resemble an Apple Vision Pro).