Comedian and media mogul Byron Allen appears to have abandoned any interest in acquiring Starz after the premium multiplex movie network said his 10 percent stake was sold earlier this summer.
In regulatory filings made with the U.S. Securities and Exchange Commission (SEC) on Thursday, officials at Starz said Allen sold roughly 1.8 million shares that were acquired through his investment arm, Allen Family Capital.
The shares were valued at nearly $25 million when Allen acquired them in March. He sold the shares between early August and late September, the regulatory documents said. The valuation of the shares were between $44.9 million and $45 million, suggesting Allen earned a net profit of $20 million from his holding.
In news interviews, Allen expressed interest in acquiring more shares of Starz as part of an ambitious bid for the entirety of the company. Starz subsequently adopted a so-called “poison pill” that would dilute his holdings and reduce shareholder voting power if Allen continued his pursuit.
In an interview with trade publication The Wrap, Allen said the poison pill wouldn’t stop him from making a play for Starz, which separate from Lionsgate last year.
“When I’m ready to buy the company, I will buy the entire company,” Allen said.
Without an equity stake in Starz, it becomes harder — but not impossible — for Allen to continue his pursuit of the entertainment platform. One possible path is to court outside investors to help him tender an all-cash or part cash offer, though the strategy would run counter to Allen’s desire to pay down debt associated with his other business ventures, including local TV stations and BuzzFeed.
It isn’t clear if Allen is still interested in pursuing Starz. A spokesperson for Allen Media has not yet returned a request seeking comment.
The disclosure was made the same day that Starz reported its third quarter (Q3) financial results, which showed revenue of more than $322 million during the three-month period. The company stopped disclosing firm subscriber counts last year after it and Lionsgate saw consecutive year-over declines dating back to 2023.
Instead, Starz is focused on other financial metrics, including streaming-related revenue, which increased to $227 million during Q3. The uptick fully offset declines in traditional TV distribution income, which was $96 million, down from $98 million earned in 2025.
