3 publishers · first seen Thu, 29 Oct 2026 21:01 UTC · updated Thu, 29 Oct 2026 21:31 UTC
Byron Allen has sold his entire 10.7% stake in Starz, disposing of 1.8 million shares between August and September 2026 for nearly $45 million, according to an SEC filing. Allen acquired the shares earlier in 2026 for $25 million from Liberty 77 Capital, a fund owned by former Treasury Secretary Steve Mnuchin. The sale comes after Starz adopted a poison pill to deter a potential takeover, despite Allen stating in March that he intended to take control of the company to expand his media portfolio.
Starz, which separated from Lionsgate in 2025, reported a narrowed net loss of $34.8 million in Q3 2026 on flat overall revenue of $322.4 million, with streaming revenue rising slightly to $226.6 million. Allen, chairman and CEO of Allen Media Group, also acquired a controlling stake in BuzzFeed earlier in 2026 under a deal involving $20 million in cash and a $100 million promissory note. His company owns the Weather Channel, 13 broadcast stations, and multiple networks.
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