Byron Allen Sells All Starz Shares for $44.9 Million

By Elena Vasquez

What did Byron Allen gain from Starz?

Investor and media entrepreneur Byron Allen made almost $20 million after selling all 1.8 million Starz shares for $44.9 million in August and September 2026. An SEC filing disclosed the sales on Thursday.

Allen Family Capital, Allen’s investment arm, acquired a 10.7% stake for $25 million in March 2026. The private transaction involved Mnuchin’s Liberty 77 Capital. Steven Mnuchin is a former Hollywood producer who served as Treasury Secretary during President Trump’s first term.

The two-month disposal involved 1.8 million shares and generated $44.9 million in proceeds, against the $25 million Allen paid for his 10.7% stake in March.

The transaction produced a $19.9 million gain and converted the private investment into cash.

How did Starz perform in the third quarter?

Starz reported third-quarter 2026 results on Thursday, showing a smaller net loss, unchanged overall revenue and modest streaming growth after its separation from Lionsgate in 2025.

• Net loss: $34.8 million, compared with $52.6 million a year earlier.
• Overall revenue: $322.4 million, flat year over year.
• Streaming revenue: $226.6 million, up 1.7%, equal to about 70% of total revenue.

Those results narrowed the net loss by $17.8 million, or nearly 34 percent. Streaming generated about seven of every 10 revenue dollars, yet total revenue did not grow.

Starz narrowed its loss by one-third without producing top-line growth.

What does Allen’s media portfolio include?

Allen serves as chairman and CEO of Allen Media Group, which owns 13 broadcast television stations and 10 networks, including the Weather Channel. His portfolio combines 23 station and network properties with majority control of BuzzFeed.

Allen acquired a controlling 51% stake in BuzzFeed in 2026, combining a $20 million cash payment at closing with a $100 million promissory note due within five years. The note accrues interest at 5% annually, equal to $5 million each year.

In July, BuzzFeed laid off 35% of its employees, cutting about 180 jobs across the company, including the HuffPost and Tasty divisions. Those cuts followed Allen’s acquisition of majority control.

Majority control came with $120 million in stated consideration, $100 million of it funded by debt.

What changes on CBS?

Allen, a one-time standup comedian, has leased a two-hour nightly comedy block on CBS. The arrangement takes over the time slot previously occupied by “Late Night With Stephen Colbert.”

Episodes of “Comics Unleashed With Byron Allen” come first, followed by “Funny You Should Ask.” The schedule extends Allen’s role from investor and executive into nightly programming, alongside his control of 13 stations, 10 networks and BuzzFeed.

His next phase pairs $44.9 million in Starz proceeds with a five-year BuzzFeed note and two nightly CBS hours, putting the new schedule and debt repayment on his immediate agenda.