Group 1 - Media mogul Byron Allen has acquired a 10.7% stake in Starz by purchasing 1.8 million shares for $25 million [1][4] - The acquisition allows Allen to expand his media portfolio, which includes the Weather Channel and various television networks and streaming platforms under Allen Media Group [1][3] - Starz operates independently after separating from Lionsgate, a decision made mutually by both companies to pursue standalone business strategies [4][6] Group 2 - Allen's investment firm, Allen Family Capital, acquired the shares at a price of $13.86 per common share, totaling an aggregate consideration of $25 million [4] - Starz has shifted its focus from competing with cable networks to enhancing its streaming services, with CEO Jeff Hirsch aiming to pursue mergers to expand its digital strategy [5][6] - Hirsch has indicated that Starz plans to actively seek mergers and acquisitions, particularly to assist struggling linear networks after its separation from Lionsgate [6]

Byron Allen has acquired a 10.7% stake in Starz, paying $25 million for 1.8 million shares in the entertainment company. The deal follows years of Allen throwing his name in the mix for a range of media properties. He was among several bidders for Paramount when it was under Shari Redstone’s control and expressed interest in Disney’s linear TV networks after CEO Bob Iger after the exec told CNBC they “may not be core” to the operation. Allen Media Group‘s portfolio includes the Weather Channel and other di ...