Byron Allen Completes Full Divestiture of Starz Shareholding

Byron Allen has fully exited the Starz enterprise.

The media mogul divested his entire 10.7% stake in the pay-television and streaming company, which split from Lionsgate last year.

The position was originally acquired via Allen’s family office from former Treasury Secretary Steve Mnuchin’s Liberty 77 fund earlier in the year for $25 million.

Newly filed SEC documents disclose on Thursday afternoon that Allen liquidated all holdings between August and September, realizing just under $45 million.

Upon announcing his initial acquisition, Starz deployed a poison pill to deter Allen from expanding his equity, though he previously told The Hollywood Reporter that he intended to secure full ownership of the premium service.

“‘I intend to acquire the entire enterprise—and I plan to take control of Starz,’ he stated, adding that a SVOD service would complement his ongoing ventures with BuzzFeed.

Since then, however, it appears he has reconsidered his plans, as the latest filing confirms.

Currently undergoing a strategic transformation, Starz reported rising revenue and diminished losses in its Q3 earnings release Thursday, fueled by acclaimed franchises including Power and Outlander.

Additionally, Allen oversees properties such as The Weather Channel and HBCU Go, and also hosts and produces Comics Unleashed, broadcast on CBS at 11:30 p.m. He recently acquired a controlling stake in BuzzFeed this year, with the objective of leveraging that digital conglomerate’s scale to construct a standalone streaming video and advertising business.

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