Ron Mwangaguhunga reports:

It’s July, so that means that the chattering class big guns are out and about in Sun Valley, Idaho, at investment banker Herb Allen‘s mogul retreat for a little “deep think” interspersed with rounds of golf. There is always, lurking in the green, the possible dramatic tension of the merger-subplot-scenario. Heather Godchild, chief media analyst at Standard and Poor’s credit rating service, told the Seattle Times: “Bucolic it may be, but this is a chessboard. You’ve got major, major players there thinking through some big questions.”

Much of the reporting coming out of Sun Valley appears to revolve around four themes:

  • 1. Rupert Murdoch Watching, which is a form of media-driven spectator sport involving the parsing of Mr. Murdoch’s every utterance for a cue as to when — or if — there will be a satisfying resolution to the $60-a-share deal for Dow Jones
  • 2. What is the future of media distribution?
  • 3. What will be the effect of private equity on the media entertainment industry?
  • 4. No one can get enough of Facebook, which most recently has been featured in both Time and Howie Kurtz‘s Reliable Sources last Sunday.

    The runner-up?

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