Byron Allen has sold his entire 10.7% stake in Starz, turning a $25 million investment into nearly $45 million in proceeds in just 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 acquired the stake from former Treasury Secretary Steve Mnuchin’s Liberty 77 fund in March, but Starz adopted a poison pill to prevent him from building a larger holding.
A Strategic Move Impeded but Ends With Winnings
The shares were sold in tranches at approximately $21 to $27 each, according to the $21 to $27 a share, according to an SEC filing.
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Allen previously told The Hollywood Reporter that he wanted to control Starz. He described approaching Mnuchin, his former banker, about buying the stake and agreeing to the $25 million asking price.
Starz subsequently introduced the poison pill, a measure designed to deter hostile takeovers. Although Allen’s ambitions to gain control were thwarted, the sale generated approximately $20 million more than his initial investment.
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.
