Byron Allen Sells Entire Starz Stake for About $45 Million

Media entrepreneur Byron Allen has sold his entire stake in Starz, closing a short but profitable investment in the premium television and streaming company. Allen Family Capital disposed of roughly 1.8 million shares during August and September for about $45 million, according to a regulatory filing reported Thursday.

The family investment office had paid approximately $25 million for the position in March, when it bought the shares from Liberty 77 Capital, a fund associated with former Treasury Secretary Steven Mnuchin. The purchase represented about 10.7% of Starz at the time.

A significant gain over several months

The reported transactions put the gross difference between the purchase and sale values near $20 million, before expenses and taxes. The shares were sold in multiple tranches at prices ranging from roughly $21 to $27. Starz stock has risen sharply during 2026, giving Allen Family Capital an opportunity to exit after only several months.

Starz adopted a shareholder-rights plan shortly after Allen disclosed the original investment. Often called a poison pill, that type of measure is designed to make an unsolicited takeover more difficult. Allen did not take control of the company, and the latest filing indicates that his investment vehicle has now fully left the position.

Starz continues its post-Lionsgate reset

The sale arrives as Starz reshapes its business following its separation from Lionsgate Studios in 2025. The company has emphasized owning more of its programming, building streaming bundles and focusing on audiences it considers underserved. Its third-quarter revenue was reported at $322.4 million, while its net loss narrowed from the same period a year earlier.

Allen remains chairman and chief executive of Allen Media Group, whose portfolio includes the Weather Channel, broadcast stations and digital networks. His broader media activity has also included a controlling investment in BuzzFeed and plans for a nightly comedy block on CBS.

The Starz exit does not signal a retreat from media investment so much as a completed trade: Allen entered with a substantial minority holding, benefited from the stock’s rise and sold the full position within the same year.