Neon Studio 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 Magnoli

Mike Larocca and Michael Schaefer’s Department M has closed a transaction to acquire a majority stake in multi Oscar and Cannes Palme d’Or winning studio, Neon. The deal in addition to infusing capital to Neon’s expanding operations allows the Santa Monica, CA studio to launch Neon