Byron Allen, the media mogul who owns the Weather Channel and other properties, acquired almost 11% of Starz Entertainment Corp. from former US Treasury Secretary Steve Mnuchin in a $25 million deal.
Mnuchin’s Liberty 77 Capital sold 1.8 million shares of Starz for $13.86 each, according to a regulatory filing Friday. Allen’s family holding company announced the purchase on Thursday, without identifying the seller.
Byron Allen
Photographer: Kyle Grillot/Bloomberg
Allen, 63, sees an opportunity to invest in one of the few pure-play streaming services at a relatively low price, according to people familiar with his thinking. He plans to leverage his relationships in ...
