Byron Allen Acquires 10.7% Stake in Starz in $25M Deal

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Published by Stephen Oluwadara at March 6, 2026

How Starz Has Evolved Over the Years

This transaction follows years of Allen throwing his name in the mix for a range of media properties. He was among several bidders for Paramount when it was under Shari Redstone’s control. The billionaire has also expressed interest in Disney’s linear TV networks after CEO Bob Iger mentioned they might not be central to the company’s strategy.

Starz got separated from Lionsgate last May and now operates independently. After starting as a rival to premium cable networks HBO and Showtime, the American pay-TV network has recently pivoted toward streaming, with those subscriptions now making up about three-quarters of its footprint.

Starz CEO Jeff Hirsch has repeatedly signaled to Wall Street the company’s intent to pursue M&A opportunities, particularly now that it’s independent from Lionsgate. On an earnings call last fall, he mentioned Starz could be a savior for “marooned linear networks”.

Adding context, he explained these are networks where “consumers have moved to the digital side, but the brands are stuck on the linear side. We can use our tech platform to reposition those brands into the digital world.”

Starz ended 2025 with 12.7 million U.S. streaming subscribers, gaining 370,000 in the year-end period. Total subscribers across Starz platforms reached 17.6 million, up 170,000 sequentially.

Streaming revenue for Q4 2025 was $210.3 million (down from $239 million in the prior-year quarter), while linear and “other” revenue rose to $112.5 million vs. $105.5 million at the end of 2024. The company made a net loss of $20.7 million, an improvement from a net loss of $31.8 million a year earlier.

Details About Byron Allen’s Acquisition Stake in Starz

The investment arm of media mogul Byron Allen acquired a 10.7% stake in Starz Entertainment for $25 million in a private transaction with Liberty Steve Mnuchin‘s Liberty 77 Capital. Mnuchin is the former Hollywood producer who served as Treasury Secretary during President Trump’s first term. He owns about 13% of Lionsgate Studios and joined the company’s board in January.

The Beverly Hills-based Allen Family Capital stated that the acquisition is for investment purposes and intends to review such investment on a continuing basis. As a result, Allen may, depending on Starz’s performance and other market conditions, increase or decrease the investment position,” the firm said in its announcement.

“Allen may, from time to time, make additional acquisitions of Common Shares or other securities of Starz either in the open market or in privately negotiated transactions, including transactions directly with Starz,” Allen Family Capital said.

Such decisions will be based on its “evaluation of Starz’s business, prospects, financial condition and results of operations, the market for the Common Shares or other securities, other opportunities available to Allen, general economic conditions, stock market conditions and other factors.”

In making the announcement, Allen Family Capital said it acquired 1,803,786 common shares of Starz at a purchase price of $13.86 per common share for aggregate consideration of $25 million. The deal gives Allen beneficial ownership of roughly 10.7% of Starz‘s outstanding common shares, up from zero previous ownership.

Allen Media Group, founded in 1993, owns and/or operates 27 ABC, NBC, CBS, and Fox network affiliate broadcast television stations in 21 U.S. markets. The company also operates 10 television networks serving nearly 300 million subscribers, including the Weather Channel, TheGrio, and HBCU Go. The company also produces, distributes, and sells advertising for 74 TV programs.