November 3, 2026
Byron Allen Flips His Starz Investment And Nets $20M Gain
The investment initially raised questions about Allen’s plans for Starz.
Media mogul Byron Allen has sold his entire 10.7% stake in Starz Entertainment for nearly $45 million, earning approximately $20 million more than his original investment just months after purchasing shares in the television and streaming company, Yahoo Finance reports.
Allen Family Capital, the investment firm owned by the founder and CEO of Allen Media Group, sold approximately 1.8 million shares between Aug. 7 and Sept. 29, according to securities filings disclosed Oct. 29.
The transactions generated approximately $44.9 million, compared with the $25 million Allen paid for the shares in March. The difference represents an estimated $19.9 million gain before taxes and transaction costs.
Allen acquired the shares from Liberty 77 Capital, an investment firm associated with former Treasury Secretary Steven Mnuchin, paying approximately $13.86 per share.
The investment initially raised questions about Allen’s plans for Starz after he publicly expressed interest in acquiring the company.
Following the purchase, Starz adopted a shareholder rights plan, commonly called a “poison pill,” designed to prevent an investor from gaining control without board approval.
Despite the defensive measure, Allen maintained his interest in acquiring the company.
“When I’m ready to buy the company, I will buy the entire company,” Allen previously told The Wrap.
His decision to sell comes as Starz continues operating independently following its separation from Lionsgate in 2025.
The company reported third-quarter revenue of $322.4 million, a 0.5% increase from the previous year. Its net loss narrowed to $34.8 million from $52.6 million a year earlier, while streaming revenue increased 1.7% to $226.6 million.
Allen’s Starz exit follows other transactions involving his media holdings. Earlier this year, he acquired a controlling stake in digital media company BuzzFeed, adding to a portfolio that includes The Weather Channel and HBCU Go, a streaming platform featuring historically Black colleges and universities.
The sale leaves Allen Family Capital with no reported ownership stake in Starz, according to the securities filing.
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