AceShowbiz - Byron Allen has made a significant move by acquiring a 10% equity stake in the entertainment company Starz. The deal involved an investment of $25 million for 1.8 million shares, marking a notable addition to Allen’s expanding media portfolio.

Byron Allen has long been active in the media acquisition space, previously showing interest in major properties such as Paramount during its ownership under Shari Redstone. He also expressed curiosity about Disney’s linear TV networks, especially after CEO Bob Iger indicated that those assets "may not be core" to Disney’s future strategy.

Allen Media Group owns a diverse range of assets including the Weather Channel, various digital and linear networks, as well as FAST and AVOD streaming platforms. The company also operates a collection of local TV stations, having sold 10 of them to Gray Media for $171 million last year.

Starz, which separated from Lionsgate in May, now operates independently. Originally positioned as a competitor to premium cable channels like HBO and Showtime, the company has shifted focus toward streaming services. Currently, streaming subscriptions account for approximately 75% of Starz’s audience footprint.

Starz CEO Jeff Hirsch has consistently communicated to Wall Street that the company is poised to pursue mergers and acquisitions opportunities aggressively following its split from Lionsgate. During an earnings call last fall, he discussed the potential for Starz to rescue what he described as "marooned linear networks" — traditional TV brands that have not yet successfully transitioned to digital platforms. Hirsch emphasized that Starz’s technology could help reposition these brands for the digital age.

The purchase of the Starz shares was executed through Allen Family Capital, the private investment entity and family office of Byron Allen. This acquisition reflects Allen’s continued commitment to expanding his influence in the evolving media and entertainment landscape.