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entertainment19h ago
Byron Allen Buys Major Stake in Starz from Steve Mnuchin
- Byron Allen acquires a 10.7% stake in Starz for $25 million through Allen Family Capital.
- The stake comes as Starz seeks to grow its streaming business amid linear TV challenges.
- Mnuchin had been an investor in Starz and joined Lionsgate's board earlier this year.
- Allen may pursue further stake expansion and take a more active approach with Starz.
- Allen Media Group's acquisitions signal continued expansion in the TV and streaming space.
- Starz was spun out from Lionsgate last year, with Mnuchin involved as an investor and director.
- The SEC filing outlines possible shareholder and board discussions tied to Starz's operations and strategy.
- Starz president or executives were not cited as part of the immediate transaction details.
- The Hollywood Reporter published the initial report on the stake purchase and related SEC filing.
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