Byron Allen Sells Entire Stake In Starz

Byron Allen and Starz's first day on the Nasdaq Entertainment Studios/STARZ Byron Allen’s Beverly Hills-based Allen Family Capital has unloaded its entire stake in Starz Entertainment. The family office sold the stock in tranches between August 9 through Sept. 29 at prices of between circa $21 and $26 a share, according to an SEC filing Thursday. Allen unveiled in March that he had acquired a 10.7% stake. Starz put in place a poison pill — a measure to deter hostile takeovers — just after the move by the founder and CEO of Allen Media Group. The shares have had a good run and he made millions on the sale, taking in just under $45 million. The news came out during a conference with Starz CEO Jeff Hirsch and analysts after the company’s quarterly earnings. Watch on Deadline More to come Must Read Stories Read More About: Subscribe to Deadline Get our Breaking News Alerts and Keep your inbox happy. Sign Up