Deal makers meet up at the Allen & Co's Sun Valley conference to lay groundwork for more deals and acquisitions.

The deal making is a big part of the New York investment bank's 30-year-old conference.

More than 240 media deals have been struck in 2013 through the conference which more than triple the US$15 billion at this time last year.

The US$186 billion union of Time Warner Inc. (TWX) and America Online was made in the conference in 1999.

 Walt Disney Co's US$19.5 billion purchase of Capital Cities/ABC Inc. was conceived through the conference in 1995.

This year's conference centers around the much talked about sale of  Hulu LLC, and with John Malone is pushing to unite Charter Communications Inc. with Time Warner Cable Inc. (TWC).

Analyst for Needham & Co. in Los Angeles, Laura Martin said, "Old media is buying new, old is buying old. There's just of lot cash on these balance sheets, a lot of free cash flow, and they have to put that to work."