Byron Allen has acquired a 10.7 percent stake in Starz for US$25 million, purchasing 1.8 million shares in the premium entertainment group. The investment, executed through Allen Family Capital, marks the media entrepreneur’s latest bid to consolidate fragmented U.S. media assets.
Allen, whose Allen Media Group owns the Weather Channel, local television stations, and FAST/AVOD streaming platforms, has pursued larger targets for years – including Paramount and Disney’s linear networks.
Starz, which spun off from Lionsgate in May, now operates independently and derives roughly three-quarters of its subscriptions from streaming. The deal gives Allen a strategic foothold in premium content as the industry accelerates its shift from cable to streaming.
