Byron Allen sells entire Starz stake for less than $45 million
Media mogul Byron Allen sold his full ownership interest in the pay-TV company Starz during August and September.
Sale details and timing
A new disclosure filed with the SEC shows the transaction occurred over two months. The media owner paid $25 million initially but received a net amount under $45 million upon exit. He acquired the shares from Steve Mnuchin's Liberty 77 investment fund earlier this year.
Company performance and strategy
Starz reported growing revenue and declining losses in its third quarter earnings report. The company benefits from franchises like Power and Outlander during this transformation period. Allen previously stated he intended to control the premium service but has since changed his mind.
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