Byron Allen Sells Entire Starz Stake at a Profit

· Entertainment · United States

Media entrepreneur Byron Allen has sold his entire stake in Starz Entertainment, the company disclosed in an SEC filing. Allen Family Capital, his Beverly Hills-based family office, sold the shares in tranches between August 9 and September 29 at prices of roughly $21 to $27 each, according to the filing. Allen had revealed in March that he acquired a 10.7% stake of about 1.8 million shares from Steve Mnuchin, the former Hollywood producer and Treasury Secretary. The exit comes as Starz reported third-quarter revenue growth and significantly narrowed losses, as the premium network leans on owned originals and refines its direct-to-consumer strategy.

Why it matters：The exit by one of Hollywood's most vocal independent owners tests investor confidence in Starz's pivot to owned originals just as it starts to show improved financials.

Key points

  • Allen Family Capital sold the shares in tranches between August 9 and September 29 at roughly $21 to $27 each.
  • Allen acquired the stake in March from former Treasury Secretary Steve Mnuchin.
  • Starz reported higher third-quarter revenue and narrower losses year-on-year.

Sources (original reporting)

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