Byron Allen has sold his entire 10.7% stake in Starz, turning a $25 million investment into nearly $45 million in proceeds in about seven months.
A new filing with the U.S. Securities and Exchange Commission (SEC) shows that Allen Family Capital, the media mogul’s family office, sold 1.8 million Starz shares between August 7 and September 29, 2026.
Allen bought the stake through his family office from former Treasury Secretary Steve Mnuchin’s Liberty 77 fund earlier this year for $25 million, but Starz adopted a poison pill to stop him from building a larger holding.
A Strategic Move Impeded but Ends With Winnings
Allen Family Capital sold the stock in tranches between August 9 and Sept. 29 at prices of circa $21 to $27 a share, according to an SEC filing Thursday. Allen unveiled in March that he had acquired a 10.7% stake.
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Allen told The Hollywood Reporter, “I want to control Starz — I am the second-largest stockholder. I have a good relationship with Steve Mnuchin. He used to be my banker when he controlled OneWest Bank, and I saw that he owned 11%, called him up and asked him if he wanted to hold on to it cause I had interest. He said, ‘I’m not interested in selling at these prices.’ I said, ‘I didn’t give you a price, just tell me what you want.’ And he said, ‘I want $25 million.’ I said, ‘OK, I’ll take those shares for $25 million, and we bought them.”
However, Starz put a poison pill in place, a measure to deter hostile takeovers, just after Allen Media Group’s founder and CEO made the move. The shares have had a great run, up 86% year to date. Allen acquired the 1.8 million shares for about $25 million from a fund owned by former Treasury Secretary Steven Mnuchin, and sold them for about $45 million.
The development was announced during a conference with Starz CEO Jeff Hirsch and analysts after the company’s quarterly earnings. Starz, which offers popular programming geared towards women and underserved audiences on its streaming platform and linear channel, separated from Lionsgate Studios in 2025.
It’s focused on owning more of its slate, creating bundles with other streamers like it’s done with Peacock and Crunchyroll, and potentially acquiring channels that appeal to its core demos.
More About American Black Billionaire Byron Allen
In May, Allen Family Office closed a deal to acquire a majority stake in digital media company BuzzFeed, with Byron Allen becoming chairman and CEO. Allen Media Group’s portfolio includes the Weather Channel and other digital and linear networks, along with FAST and AVOD streaming platforms.
This news follows a similar sale of 10 television stations by Byron Allen’s Media Group to Atlanta-based Gray Media, Inc. for $171 million in 2025. According to the billionaire, the sale was meant to pay the media company’s debt.
The American Black billionaire built a massive media empire by focusing on content ownership, launching what was originally Entertainment Studios in 1993. His company’s portfolio includes The Weather Channel, BuzzFeed (acquired in 2026), numerous local broadcast stations, and a vast library of syndicated programming like Comics Unleashed.
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He began his career as a stand-up comedian, becoming the youngest comedian ever to perform on The Tonight Show Starring Johnny Carson at age 18, before co-hosting NBC’s Real People and hosting his own late-night talk show. Allen is currently taking over CBS’s late-night time slot with his comedy block, having purchased the airtime.
