Mar. 6 at 6:43 PM
Allen Family Capital disclosed a 10.7% stake in streaming and cable network company Starz Entertainment. The family office of Byron Allen purchased 1,803,786 shares at
$13.86 each for about
$25 million on March 5, according to a regulatory filing. Allen previously held no shares in the company.
The stake was acquired for investment purposes, though Allen said he may adjust the position depending on market conditions and company performance. The shares were purchased from Liberty Strategic Capital, founded by former U.S. Treasury Secretary Steven Mnuchin, which exited its entire position.
Analysts noted that while Starz has discussed acting as a buyer in potential M&A deals, its relatively small size could also make it an acquisition target.
$STRZ