After Byron Allen's investment, the stock price of Starz Entertainment rose

LootboxPhobia · 2026-03-06T23:27:18+00:00

Starz Entertainment Corp. stock price increased by 4.7% as Allen Family Capital acquired a 10.7% stake in the company, with a total cost of approximately $25 million. The acquisition was completed by Byron Allen's family office, and Allen stated that he may increase or decrease his holdings depending on market conditions. Analysts noted that although Starz has considered mergers and acquisitions, its small size may make it a potential acquisition target.

LootboxPhobia

2026-03-06 23:27:18

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Investing.com – Starz Entertainment Corp. (NASDAQ:STRZ) stock rose 4.7% on Friday after Allen Family Capital disclosed that it had acquired a 10.7% stake in the streaming and cable TV network company.

According to regulatory filings, Byron Allen’s family office, Allen Family Capital, purchased 1,803,786 shares of common stock at $13.86 per share on March 5, totaling $25,000,000. Prior to this acquisition, Allen did not hold any shares of Starz.

This investment accounts for approximately 10.7% of Starz’s issued and outstanding common shares. Allen stated that the purchase was for investment purposes and that he may increase or decrease his holdings depending on market conditions and company performance.

Byron Allen is the founder, chairman, and CEO of Allen Media Group, which owns radio stations, The Weather Channel, and other media assets. He has previously expressed interest in multiple media acquisitions, including Paramount, BET, and ABC’s linear entertainment networks.

Raymond James analyst Brent Penter noted that Allen Family Capital bought this stake from Liberty Strategic Capital, which sold its entire position. Liberty Strategic Capital was founded by former U.S. Treasury Secretary Steven Mnuchin.

Penter commented that although Starz has discussed the potential to participate as a buyer in mergers and acquisitions, the company is relatively small and could become an acquisition target. He pointed out that Starz’s market capitalization exceeds $200 million, with an enterprise value over $800 million, making it a smaller, more manageable acquisition for Allen if he chooses to pursue it.

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