Byron Allen has once again proven his knack for timing the market, walking away with a substantial profit after selling off his entire stake in Starz. According to a recent SEC filing, the media entrepreneur unloaded 1.8 million shares throughout August and September of 2026, netting a total of 44.9 million dollars. This represents a significant windfall for Allen, as he originally purchased the shares for roughly 25 million dollars back in March through a private deal with former Treasury Secretary Steven Mnuchin’s investment firm, Liberty 77 Capital.
The move comes at a pivotal moment for Starz as the company works to stabilize its finances following its separation from Lionsgate last year. While overall revenue remained flat at around 322 million dollars in the third quarter, the company managed to narrow its net losses compared to the previous year. Streaming revenue showed modest growth, increasing slightly to reach nearly 227 million dollars, suggesting a slow but steady climb toward profitability for the network.
This successful trade is just one piece of a larger expansion strategy for Allen, whose empire continues to grow under the umbrella of Allen Media Group. Beyond his ownership of several broadcast stations and networks like The Weather Channel, Allen recently secured a controlling stake in BuzzFeed via a combination of cash and a hundred million dollar promissory note. However, that acquisition has been marked by turmoil, as BuzzFeed slashed thirty five percent of its workforce in July to cut costs across various divisions including HuffPost.
While managing these corporate maneuvers, Allen is also returning to his roots in entertainment. The former standup comic has expanded his presence on traditional television by leasing a nightly two hour block on CBS. Taking over the slot formerly held by Stephen Colbert, Allen now airs his own production Comics Unleashed along with another comedy program titled Funny You Should Ask, further diversifying his influence across both business and broadcasting.