Overview
- A disclosure filed with the SEC and reported Thursday shows Allen sold the full 10.7% position by selling shares from Aug. 7 through Sept. 29 and realized roughly $45 million.
- Allen bought the stake in March from Steve Mnuchin’s Liberty 77 fund for about $25 million, creating a rapid, profitable flip rather than a long-term holding.
- Starz adopted a board-approved poison-pill after Allen disclosed his purchase to limit a takeover or larger accumulation, and the defense remains in place.
- Starz reported modest Q3 improvement with total revenue up 0.5% to $322.4 million and a narrowed net loss of $34.8 million, results cited in filings about the sale.
- The exit narrows an active takeover storyline and frees Allen to reallocate capital toward his other media assets, including his controlling stake in BuzzFeed and existing TV properties.