Department M Acquires Significant Stake in Oscar-Winning Studio Neon

Department M has completed a transaction to acquire a significant stake in Neon, the indie studio known for Oscar-winning films like 'Parasite' and 'Anora'. Founder Tom Quinn will remain CEO of the company.

10 Jul, 18:30 — 10 Jul, 18:30

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Why this matters

This acquisition marks a significant financial move for Department M into the independent film space, particularly with a studio like Neon that has a track record of critical and commercial success, including Oscar wins. The deal underscores a trend of larger entities investing in or acquiring stakes in acclaimed independent distributors.

Key entitiesDepartment M Neon Tom Quinn Anora Parasite

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varietyMostly Factual36d ago

Neon, Oscar-Winning Studio Behind ‘Anora’ and ‘Longlegs,’ Sells Stake to Department M

Department M has closed a transaction to acquire a significant stake in Neon, the Oscar-winning indie studio behind “Parasite” and “Anora.” Financial terms of the deal were not disclosed. Tom Quinn, the founder of Neon and an indie vet who has had stints at Radius and Magnolia, will remain CEO of the company. Michael Schaefer, […]

By Varietybrentlang

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hollywood-reporterMostly Factual36d ago