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Next week marks the end of a long-running New York holiday-season tradition for entertainment and Wall Street types.
For years, the first week of December featured competing media investor conferences put on by investment banks UBS and Credit Suisse. Sector executives, investors, analysts and reporters would shuttle back and forth between the Grand Hyatt hotel at Grand Central station in Midtown Manhattan — where UBS will also hold its 35th annual Global Media & Communications Conference — and the hotel where Credit Suisse put up its conference until last year.
But Credit Suisse has decided to move its gathering to the West Coast and hold it during the summer. It also plans to make its lineup broader, more global and more focused on digital and convergence themes, with a range of media, Internet, video game and telecom companies from around the world expected to attend.
The new Convergence Conference is scheduled for June 10-13 at the St. Regis Monarch Beach at Dana Point in Southern California.
“Everyone complained about the overlapping conferences,” and Credit Suisse decided its conference didn’t bring enough benefit to offset the cost when held in December under the traditional settings and themes, one person familiar with the situation said.
Many said that they had hoped one of the banks would change things up to avoid what some say was unnecessary competition for investors’ and executives’ attention.
Although it will be a more quiet start to the final month of the year for industry folks, the UBS conference next week still includes enough heavyweights to keep everyone busy. The lineup includes NBC Universal CEO Jeff Zucker, Viacom CEO Philippe Dauman, CBS Corp. CEO Leslie Moonves, MPAA chairman Dan Glickman and Google and Fox Interactive Media executives, among others.
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