Byron Allen has exited Starz, selling his full 10.7 percent stake in the pay-TV and streaming company after previously signaling that he wanted to take control of the business.

An SEC disclosure filed Thursday afternoon shows that Allen disposed of his entire holding through transactions completed during August and September. The sales brought in slightly less than $45 million, according to the filing.

Allen had purchased the shares earlier this year through his family office, paying $25 million to acquire them from Liberty 77, the investment fund associated with former Treasury Secretary Steve Mnuchin.

The divestment marks a significant reversal for Allen. After the initial investment became public, Starz adopted a poison pill designed to stop him from increasing his position. Allen nevertheless made clear that he was considering a much bigger move involving the company.

“When I decide to buy the whole company — I will buy the whole company — I do plan on controlling Starz,” Allen told The Hollywood Reporter at the time.

He also said he wanted an SVOD service that could complement his work with BuzzFeed. The newly disclosed sale indicates that those ambitions no longer include an ownership position in Starz.

Starz Is Navigating a Broader Transformation

Allen’s departure comes as Starz continues to reshape its business after spinning out from Lionsgate last year.

The company reported its third-quarter results Thursday, posting revenue growth and narrowing losses. Franchises including Power and Outlander helped drive that performance.

That improving earnings picture provides important context for Allen’s exit. His 10.7 percent position was large enough to prompt Starz to take defensive action when it was disclosed, particularly after he publicly discussed the possibility of eventually buying the entire company.

Instead, the SEC filing confirms that Allen sold all of his shares across a two-month period. With proceeds of just under $45 million from stock purchased for $25 million earlier in the year, the transactions also closed out his financial position in the company.

Allen’s Streaming Focus Shifts Elsewhere

Although Allen is no longer invested in Starz, he continues to hold a range of media interests. His properties include The Weather Channel and HBCU Go, and he hosts and produces Comics Unleashed, which airs on CBS at 11:30 p.m.

Allen also acquired a controlling stake in BuzzFeed earlier this year. His stated plans for that digital company include using its scale to develop a streaming video and advertising business.

That BuzzFeed strategy remains the clearest confirmed path for Allen’s streaming ambitions following the sale of his Starz stake. His earlier comments had positioned Starz as a possible subscription-video complement to those plans, but disposing of the entire holding removes that option from his current portfolio.

ShowBiz Take

This is more than a routine stock sale because Allen had attached an unusually direct statement of intent to his Starz investment. He did not merely express interest in the company; he said he planned to control it when he decided to buy it.

Starz responded to the possibility of a larger ownership push by adopting a poison pill. The fact that Allen has now sold every share ends that immediate tension and leaves Starz to continue its transformation without him as a major investor.

For Allen, the move separates two strategies that had briefly appeared capable of converging. Starz was presented as a possible SVOD component alongside BuzzFeed, while BuzzFeed was expected to supply digital scale for a broader video and advertising operation. The Starz side of that equation has now been removed.

What Happens Next?

Starz moves forward after reporting higher revenue and reduced losses in its latest quarter, with Power and Outlander among the franchises supporting its results.

Allen, meanwhile, remains focused on his other media holdings and his plans to build a streaming video and advertising business around BuzzFeed. What is now confirmed is that Starz will not be part of that effort through the 10.7 percent stake he acquired earlier this year.