Byron Allen has sold his entire stake in Starz. His family office, Allen Family Capital, realized approximately $19.9 million in gross gains over about six months.
The firm sold approximately 1.8 million shares in the entertainment company for $44.9 million between August and September 2026, according to an October 29 securities disclosure.
Allen Family Capital acquired the investment for approximately $25 million in March, generating a return of nearly 80% before transaction costs and taxes.
The sale follows Allen’s earlier public statements about acquiring control of Starz, which operates a premium subscription television and streaming business.
How a $25 Million Investment Became Nearly $45 Million
Allen Family Capital acquired 1,803,786 Starz shares from investment funds associated with former U.S. Treasury Secretary Steven Mnuchin in March 2026.
The purchase price was approximately $13.86 per share, giving Allen a 10.7% ownership position in the company.
Five months later, the firm began selling shares through a series of open-market transactions.
The final sale occurred on September 29, when Allen Family Capital sold its remaining 363,786 shares at an average price of $21.06, generating approximately $7.66 million.
According to the October SEC filing, the transactions eliminated the firm’s entire reported ownership position.
From Acquisition Ambitions to a Complete Exit
Allen’s initial investment attracted attention because he had expressed interest in acquiring Starz outright.
The company became independently publicly traded following its separation from Lionsgate Studios in 2025, allowing investors to acquire a direct ownership position in the premium entertainment business.
Allen viewed Starz as a potential addition to his media holdings, which span broadcast television, cable networks and streaming.
Following his investment, Starz adopted a shareholder rights plan, commonly called a poison pill, designed to discourage an investor from accumulating control without board approval.
Allen also raised the possibility of using BuzzFeed to acquire Starz, according to TheWrap.
The securities filings establish that Allen Family Capital sold its entire ownership position. They do not explain why Allen sold or whether he intends to pursue another acquisition of Starz.
