Allen Sold $50.2 Million of USA Networks Stock

Microsoft Corp. co-founder Paul Allen, who sits on the board of USA Networks Inc., sold $50.2 million of the media company’s common stock last month, a regulatory filing said.

Allen, who stepped down from Microsoft’s board last year, sold 2.19 million shares from Aug. 13-24, according to a Securities and Exchange Commission filing. He indirectly held about 28 million shares in New York-based USA Networks at the end of August, the filing showed.

Allen, a billionaire, quit running Microsoft’s day-to-day operations in the early 1980s to battle Hodgkin’s disease.

USA Network shares closed at $23.07 Monday on Nasdaq. Its stock has ranged from $16.19 to $28.44 in the last year.