headed by Ted Forstmann that owns IMG. Albrecht and Forstmann planned to raise a $250 million fund for investments in media and entertainment content. In a statement released by IMG on August 12, 2008, Albrecht's departure was blamed on the firm's inability to raise those funds. In 2008, Albrecht founded Foresee Entertainment, an independent content creation, development and distribution company. On January 1, 2010, Albrecht joined Starz, LLC, as its president and CEO. He oversaw all of the Starz entities, including Starz Entertainment, Overture Films, Anchor Bay Entertainment and Film Roman. Starz, LLC, is a controlled subsidiary that operates Starz Media and Starz Entertainment. Starz Entertainment, LLC, is a premium movie service provider operating in the United States with 17 movie channels including the flagship STARZ and STARZ ENCORE brands with approximately 24 million and 32 million subscribers respectively. Two years after joining Starz, Albrecht and Liberty Media announced that it would spin-off Liberty Starz into a separate public company; the transaction included about $1.5 billion of debt. The spin-off of the subsidiary was expected to be completed by the end of 2012, but was actually completed on January 11, 2013. As a result of the spin-off, Liberty Starz changed its name to "Starz Inc." The new stock rose 9.8% on its first day of trading. Albrecht's contract was renewed as CEO of Starz through 2020. The title of President was added effective July 1, 2016. On June 30, 2016, Lionsgate agreed to acquire Starz Inc. for $4.4 billion in cash and stock. In February of 2021, it was announced that Albrecht was moving to Legendary Entertainment. Personal life In 1981, he married his first wife, Annie Albrecht, with whom he had two daughters. They divorced in 2000 after 19 years of marriage. In 2011, Albrecht married Montana Coady. They wed in front of 250 guests including Larry David, Billy Crystal, Harvey Weinstein, Brett Ratner, Brad Grey, Chris Rock and Les Moonves. His groomsmen included Hollywood and media power players Brian Grazer, Steve Bing and Jeff Bewkes. Albrecht and Coady divorced in 2015. Albrecht endorsed Democratic candidate Hillary Clinton in the run-up for the 2016 U.S. presidential election. Legal issues and allegations of abuse The Los Angeles Times reported that in 1991, HBO paid a settlement of at least $400,000 to Sasha Emerson, a subordinate of Albrecht who had accused him of choking her during a confrontation in her office.