Byron Allen sells entire 10.7% stake in Starz for $44.9 million profit

Byron Allen has sold his entire 10.7% stake in Starz, which he had purchased earlier this year from former Treasury Secretary Steve Mnuchin's Liberty 77 Capital, according to Variety and The Hollywood Reporter.

Allen's investment arm, Allen Family Capital, acquired the shares for $25 million in a private transaction in March 2026. Over August and September, he sold all 1.8 million shares for a total of $44.9 million, earning nearly $20 million more than his purchase price, as reported by Variety.

Starz, which separated from Lionsgate last year, recently reported third-quarter 2026 earnings showing a narrowed net loss of $34.8 million compared to $52.6 million a year earlier. The company's overall revenue remained flat at $322.4 million, with streaming revenue increasing 1.7% year over year.

Allen had initially expressed interest in controlling Starz, but filings indicate he has since changed his mind. He currently leads Allen Media Group, which owns multiple broadcast stations and networks, including the Weather Channel, and acquired a controlling stake in BuzzFeed earlier this year.

The sale of Allen's Starz shares coincides with the company's ongoing transformation and efforts to grow its streaming and pay-TV business, driven by popular franchises like Power and Outlander, according to The Hollywood Reporter.