Byron Allen Plans Full Acquisition of Starz Entertainment
Byron Allen, who recently made a deal for a majority stake in an ailing BuzzFeed (BZFD), also covets a subscription video on-demand platform to pair with his assets and revealed to The Hollywood Reporter that his next target for a full takeover is Starz Entertainment (STRZ), according to Erik Hayden. "SVOD, subscription video on-demand, and AVOD, advertising video on-demand," Allen says. Allen is quoted as having said in an interview: "I want to control Starz - I am the second largest stockholder. I have a good relationship with Steve Mnuchin. He used to be my banker when he controlled OneWest Bank and I saw that he owned 11 percent, called him up and asked him if he wanted to hold on to it cause I had interest." When asked about the company's "poison pill," Allen is said to have added: "You have to ask them. But it doesn't matter. When I decide to buy the whole company - I will buy the whole company - I do plan on controlling Starz."
