If you’re looking for your nearest magnate this week in NY or LA, don’t bother because the annual Sun Valley mogul conference, hosted by Allen & Company, began Tuesday and continues throughout the week. Media bigwigs cascade upon Idaho and begin to discuss brokering various deals. According to Michael J. de la Merced of The New York Times, topics this year are circling around the economic climate and whether dazzling deals will still be the norm. And which moguls will make a run for upstarts like Zynga, the social network game developer or Groupon, the online coupon company. CEO’s from Hollywood to Wall Street attend and you have to be invited. Seen and heard, News Corps. Rupert Murdoch and wife Wendy, Disney’s Bob Iger and wife Willow Bay, CBS’s Les Moonves, Universal Studios Ron Meyer and wife Kelly, Viacom’s Phillippe Dauman and wife Deborah, Allen & Co’s Herb Allen, Dreamwork’s big shot Jeffrey Katzenberg and rarely seen mogul Mike Ovitz. Ovitz, who still privately advises the careers of some and is also a private investor, is known to have one of the most esteemed art collections in the world. Best sighting was Facebook chief, the young Mark Zuckerberg hopping into the rental car of Google’s chief, Eric Shmidt and it was an Infiniti, opposed to the other atendees larger gas guzzlers.