Media mogul Byron Allen has acquired a 10.7% stake in Starz, purchasing approximately 1.8 million shares for $25 million through his investment firm Allen Family Capital.
The purchase marks Allen’s latest move in a long-running strategy to expand his footprint across television, streaming, and digital media.
According to the announcement, Allen Family Capital purchased 1,803,786 shares at $13.86 per share in a private transaction with Liberty 77 Capital, an investment fund associated with former U.S. Treasury Secretary Steve Mnuchin. Prior to the transaction, Allen did not hold any shares in the company.
The investment gives Allen beneficial ownership of about 10.7% of Starz’s outstanding common shares.
A Strategic Moment for Starz
The investment comes less than a year after Starz separated from Lionsgate, completing a corporate split in May 2025 that turned the premium cable network and streaming service into an independent, publicly traded company.
Once known primarily as a rival to premium cable networks like HBO and Showtime, Starz has increasingly shifted its focus toward streaming. The company reported that streaming subscriptions now account for roughly three-quarters of its customer base.
By the end of 2025, Starz reported:
- 12.7 million U.S. streaming subscribers
- 17.6 million total subscribers across all platforms
- $210.3 million in Q4 streaming revenue
While streaming revenue declined year-over-year, the company reported an improved net loss of $20.7 million, compared to $31.8 million the previous year.
Starz CEO Jeff Hirsch has also signaled that the company could become an active player in media mergers and acquisitions, particularly by acquiring or repositioning what he calls “marooned linear networks.”
These are traditional television networks that have strong brand recognition but have struggled to transition audiences to streaming platforms.
Hirsch has suggested Starz’s technology infrastructure could help move those networks into the digital ecosystem.
Byron Allen’s Expanding Media Empire
Allen’s investment in Starz aligns with his broader strategy of acquiring and building media assets across television and digital platforms.
Through Allen Media Group, he already controls:
- The Weather Channel
- Several digital and linear networks
- FAST and AVOD streaming platforms
- A portfolio of local television stations
In 2025, Allen sold 10 of his local stations to Gray Media for $171 million, continuing to reshape his holdings while seeking new opportunities in the evolving media landscape.
Allen has also repeatedly positioned himself as a potential buyer of major media properties. In recent years he has:
- Entered bidding discussions for Paramount Global
- Expressed interest in acquiring Disney’s linear television networks after CEO Bob Iger suggested they may no longer be central to the company’s strategy
What Comes Next
Allen Family Capital described the Starz purchase as an investment, but noted the firm may increase or decrease its position depending on market conditions and Starz’s performance.
The firm also indicated that Allen could potentially acquire additional shares through open market purchases or private transactions in the future.
The move places Allen among the significant stakeholders in Starz at a time when the company is navigating its next phase as an independent media platform.