No dealmaking for Murdoch

News Corp. chairman Rupert Murdoch arrives Wednesday with his wife, Wendi, for the annual Allen & Co.’s media retreat.

Associated Press

News Corp. chairman Rupert Murdoch arrives Wednesday with his wife, Wendi, for the annual Allen & Co.’s media retreat.

SUN VALLEY, Idaho — News Corp. chairman Rupert Murdoch plans to forgo making deals at this year's Allen & Co. media retreat, dampening the five-day event renowned as an incubator for big-time media and Web combinations.

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"Not today, not this week," said Murdoch, who built his media and entertainment empire through brash dealmaking at Sun Valley and elsewhere, including last year's purchase of Dow Jones.

Much of the talk at the retreat has centered on speculation over the next move in the complex takeover dance between faltering Internet pioneer Yahoo Inc. and its unbidden suitor, Microsoft Corp.

Yahoo CEO Jerry Yang, who rejected a $33-per-share bid from the world's largest softwaremaker in May, saying the company he helped found is worth $37 per share, isn't expected to arrive until today. And billionaire investor Carl Icahn, who owns about 4 percent of Yahoo and has been agitating for a sale, isn't expected at all. Icahn reportedly bought his stake for $25 per share. Microsoft co-founder Bill Gates is expected Friday.

The 26th annual conference kicked off Wednesday with a morning of closed-door presentations, starting with Jeff Bezos, the founder of Amazon.com.

Henry Kravis of Kohlberg Kravis Roberts & Co. is the highest-profile money man on the guest list. Mario Gabelli, chairman of Gamco Investors Inc. in New York, is at the event, but he has been tight-lipped on the prospects for investments.

No dealmaking for Murdoch 07/09/08 [Last modified: Monday, November 1, 2010 3:29pm]

    

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