Byron Allen has sold his entire stake in Starz Entertainment, turning a roughly $25 million investment into about $44.9 million in less than seven months.

The sales were disclosed in a Form 4 filing with the Securities and Exchange Commission signed on October 29. The filing lists Allen Family Capital, LLC and Allen, under his legal name Byron Allen Folks, as the reporting owners.

From Buyer to Seller

Allen bought about 1.8 million Starz shares in March, a 10.7% stake, for about $25 million. The seller was Liberty 77 Capital, the investment firm tied to former Treasury Secretary Steven Mnuchin.

According to the SEC filing, Allen Family Capital sold 1,803,786 shares in 23 open-market trades between August 7 and September 29. Prices ranged from about $21.06 to $28.20 per share, and the filing shows zero shares held after the final sale.

The total comes to roughly $44.9 million, leaving an estimated gain of $19.9 million before taxes and transaction costs.

The Takeover That Wasn’t

The exit is a turn from Allen’s earlier stance. After his purchase, Starz adopted a “poison pill” shareholder rights plan designed to block anyone from taking control without board approval.

Allen did not back down at the time. “When I’m ready to buy the company, I will buy the entire company,” he told The Wrap.

Starz has operated independently since separating from Lionsgate in 2025. In its third quarter, the company reported revenue of $322.4 million, up 0.5%, and narrowed its net loss to $34.8 million.

The sale comes during a busy year for Allen Media Group. Earlier in 2026, Allen acquired a controlling stake in BuzzFeed, and his holdings include The Weather Channel and the streaming platform HBCU Go.

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