Key Takeaways
- • Allen Family Capital, the Beverly Hills-based family office of Byron Allen, has fully exited its stake in Starz Entertainment, according to an SEC filing reported by Deadline.
- • The position was sold in tranches between August 9 and September 29 at prices of roughly $21 to $27 per share.
- • Allen had acquired about 1.8 million shares for roughly $25 million from a fund owned by former Treasury Secretary Steven Mnuchin and sold them for about $45 million, per the report.
- • The exit followed Allen's March disclosure of a 10.7% stake and came shortly after Starz adopted a poison pill defense against hostile takeovers.
- • The sale was disclosed during Starz's post-earnings conference call with CEO Jeff Hirsch and analysts.
Summary
Allen Family Capital, the Beverly Hills-based family office of Byron Allen, has unloaded its entire stake in Starz Entertainment, according to an SEC filing reported by Deadline. The family office sold the shares in tranches between August 9 and September 29 at prices of between roughly $21 and $27 per share.
Allen first disclosed in March that he had acquired a 10.7% stake in the streaming company. Starz adopted a poison pill, a measure designed to deter hostile takeovers, shortly after that move by Allen, who is founder and CEO of Allen Media Group. The shares have performed strongly, rising 86% year to date, according to the report. 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 disclosure of the full exit came during a conference with Starz CEO Jeff Hirsch and analysts following the company's quarterly earnings. Starz, which separated from Lionsgate Studios in 2025, offers programming aimed at women and underserved audiences across its streaming platform and linear channel. The company is focused on owning more of its slate, creating bundles with other streamers such as Peacock and Crunchyroll, and potentially acquiring channels that appeal to its core demographics.
Allen's broader media activities include a May transaction in which Allen Family Digital closed a deal to acquire a majority stake in BuzzFeed, with Byron Allen becoming chairman and CEO. Allen Media Group's portfolio includes The Weather Channel, other digital and linear networks, and FAST and AVOD streaming platforms. Allen also controls a group of local TV stations and last year sold 10 of them to Gray Media for $171 million.
Allen first disclosed in March that he had acquired a 10.7% stake in the streaming company. Starz adopted a poison pill, a measure designed to deter hostile takeovers, shortly after that move by Allen, who is founder and CEO of Allen Media Group. The shares have performed strongly, rising 86% year to date, according to the report. 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 disclosure of the full exit came during a conference with Starz CEO Jeff Hirsch and analysts following the company's quarterly earnings. Starz, which separated from Lionsgate Studios in 2025, offers programming aimed at women and underserved audiences across its streaming platform and linear channel. The company is focused on owning more of its slate, creating bundles with other streamers such as Peacock and Crunchyroll, and potentially acquiring channels that appeal to its core demographics.
Allen's broader media activities include a May transaction in which Allen Family Digital closed a deal to acquire a majority stake in BuzzFeed, with Byron Allen becoming chairman and CEO. Allen Media Group's portfolio includes The Weather Channel, other digital and linear networks, and FAST and AVOD streaming platforms. Allen also controls a group of local TV stations and last year sold 10 of them to Gray Media for $171 million.
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