His Allen Media Group in August 2025 agreed to sell its broadcast television properties in 10 markets to Gray Media for $171 million, lowering its operations to 12 locales. Now, he’s not a seller but an investor. Only, it involves a subscription-based cable television network.
Allen Family Capital LLC on Thursday acquired 1,803,786 common shares of Nasdaq-traded Starz Entertainment Corp.
A purchase price of $13.86 per common share was paid, with aggregate consideration of $25 million.
This gives the Byron Allen-associated fund 10.7% of Starz’s issued and outstanding common shares. And, according to Hollywood trades, it is a stake that was previously held by Steve Mnuchin’s Liberty 77 Fund.
While Allen Media Broadcasting has diminished in size in order to address debt within that segment of AMG, it continues to own and operate The Weather Channel, the Local Now OTT platform, several digital networks including Pets.TV through the Entertainment Studios arm, and a syndication group with a collection of programs including “Comics Unleashed with Byron Allen” — slated to replace The Late Show with Stephen Colbert for an undetermined period following the conclusion of the CBS program on May 21.
