Moguls set for gloomy gathering

Media executives Sumner Redstone and Rupert Murdoch may find deal-making overshadowed by falling share prices at this year's Allen & Co conference as they meet with investors who have lost a third of their money or more.

Viacom Inc and CBS Corp, both controlled by Redstone, have declined 35 percent this year, more than twice the drop in the Standard & Poor's 500 Index. Murdoch's News Corp is down 30 percent.