Investor and media entrepreneur Byron Allen has sold all of the Starz stock he acquired earlier this year from Steven Mnuchin — and walked away with a handsome profit. According to a new SEC filing, Allen sold all 1.8 million Starz shares he owned over the course of August and September 2026, Variety reports.
Byron Allen (Credits: Variety)
Byron Allen Sells 1.8 Million Starz Shares for $44.9 Million
The sale brought in a total of $44.9 million — nearly $20 million more than Allen paid for the shares. It is a textbook buy-low, sell-high play: Allen picked up the stake from Steve Mnuchin, the former Hollywood producer who served as Treasury Secretary during President Trump’s first term, and exited within months at a steep markup.
The trade highlights Allen’s reputation as a shrewd media investor. Starz, the premium cable and streaming brand, has been navigating a turbulent period for the industry — and Allen clearly timed the deal well enough to clear almost $20 million in profit on the round trip.
What the Starz Sale Means
Allen’s exit does not necessarily signal anything about Starz’s long-term prospects; it reads more like a disciplined trader taking a win off the table. With the premium cable market in flux and streaming economics still being rewritten, a near-$20 million gain in a few months is exactly the kind of move that keeps investors like Allen in the game.
Neither Allen nor Mnuchin has commented beyond the filing. For now, the lesson is classic Wall Street wisdom: buy low, sell high — and sometimes the best move is knowing when to walk away.
Also Read: Starz Returns to Verizon Fios After New Carriage Deal Ends Blackout
Source: Variety — read the full story there.
