{"id":3317,"date":"2026-07-10T23:42:45","date_gmt":"2026-07-10T18:42:45","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=3317"},"modified":"2026-07-10T23:42:45","modified_gmt":"2026-07-10T18:42:45","slug":"neon-sells-stake-to-department-m-neon-tv-launches","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=3317","title":{"rendered":"Neon Sells Stake to Department M; Neon TV Launches"},"content":{"rendered":"<p><script>\r\n  atOptions = {\r\n    'key' : '644b717812d811d6a1c1fc5b6ccd6fa6',\r\n    'format' : 'iframe',\r\n    'height' : 90,\r\n    'width' : 728,\r\n    'params' : {}\r\n  };\r\n<\/script>\r\n<script src=\"https:\/\/www.highperformanceformat.com\/644b717812d811d6a1c1fc5b6ccd6fa6\/invoke.js\"><\/script>\r\n<br \/>\n<\/p>\n<div>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tMike Larocca and <a href=\"https:\/\/deadline.com\/tag\/michael-schaefer\/\" id=\"auto-tag_michael-schaefer\" data-tag=\"michael-schaefer\">Michael Schaefer<\/a>\u2018s <a href=\"https:\/\/deadline.com\/tag\/department-m\/\" id=\"auto-tag_department-m\" data-tag=\"department-m\">Department M<\/a> has closed a transaction to acquire a majority stake in\u00a0multi Oscar and Cannes Palme d\u2019Or winning studio, <a href=\"https:\/\/deadline.com\/tag\/neon\/\" id=\"auto-tag_neon\" data-tag=\"neon\">Neon<\/a>. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tThe deal in addition to infusing capital to Neon\u2019s expanding operations allows the Santa Monica, CA studio to launch <a href=\"https:\/\/deadline.com\/tag\/neon-tv\/\" id=\"auto-tag_neon-tv\" data-tag=\"neon-tv\">Neon TV<\/a>, creating a more significant mini-studio that already counts an international sales arm, and an award winning lucrative feature library. Earlier today, Andreas reported that there\u2019s buzz of Neon launching a UK distribution arm ala Lionsgate. Department M is already supplying development and production ready projects as part of the new deal.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tTom Quinn will remain the CEO and Founder of\u00a0Neon. Department M Partner Schaefer will become\u00a0Neon\u2019s Chief Content Officer.\u00a0\u00a0Department M Partner Mike Larocca remains at Department M and joins the\u00a0Neon\u00a0board.\u00a0\u00a0Jeff Deutchman continues as President of Acquisition, Production and Development for Film and Carina Sposato\u00a0joins\u00a0as EVP, Television, both reporting directly to Schaefer.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tWe told you during the European Film Market back in February that Neon was in talks with Department M for a capital injection. Neon had been searching for an additional investor for sometime; there were rumors a few years ago that Steven Rales\u2019 Indian Paintbrush were kicking the tires. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tThe new deal will keep longstanding\u00a0Neon backers The Friedkin Group as significant shareholders and board members. The Friedkin Group, led by Dan Friedkin, is also an owner of indie feature financier 30West.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tBoth Neon and Department M before the deal have partnerships with Qatar. The Qatar Film Committee has a slate deal in place with Neon, and a biopic production with Department M. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tFilm and TV producer Department M was launched in 2024 by AGBO vet Larocca and New Regency\u2019s Schaefer. They were behind the remake of the 1992 thriller\u00a0<em>The Hand That Rocks the Cradle<\/em>, which streamed on Hulu last year.  Department M has Cary Joji Fukunaga\u2019s upcoming Jo Nesb\u00f8 adaptation\u00a0<em>Blood on Snow<\/em>, starring Benedict Cumberbatch, Aaron Taylor-Johnson, Eva Green and Ben Mendelsohn.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tNeon, once again, had a fantastic Cannes film festival with Cristian Mungiu\u2019s <em>Fjord <\/em>winning the studio\u2019s seventh straight Palme d\u2019Or. In addition the pic won the FIPRESCI award on the Croisette. Also, Best Actress went to Virginie Efira and Tao Okamoto\u2019s <em>All of a Sudden<\/em>. Neon arrived at Cannes this year with six competition titles in place \u2014<em>All of a Sudden<\/em>, <em>Fjord<\/em>, <em>Hope<\/em>, <em>Paper Tiger<\/em>, <em>Sheep in the Box<\/em> and <em>The Unknown<\/em>. Earlier this year, Neon saw a Best Picture nomination for its Cannes 2025 titles <em>Sentimental Value<\/em> and <em>The Secret Agent<\/em> (with the former ultimately winning Best International Feature Film). <\/p>\n<\/div>\n<script async=\"async\" data-cfasync=\"false\" src=\"https:\/\/pl30214220.effectivecpmnetwork.com\/9ab3d4df8a7e1a6171e16ddbf732cc19\/invoke.js\"><\/script>\r\n<div id=\"container-9ab3d4df8a7e1a6171e16ddbf732cc19\"><\/div>\r\n\n","protected":false},"excerpt":{"rendered":"<p>Mike Larocca and Michael Schaefer\u2018s Department M has closed a transaction to acquire a majority stake in\u00a0multi Oscar and Cannes Palme d\u2019Or winning studio, Neon. The deal in addition to infusing capital to Neon\u2019s expanding operations allows the Santa Monica, CA studio to launch Neon TV, creating a more significant mini-studio that already counts an&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/deadline.com\/wp-content\/uploads\/2026\/07\/Neon-Department-M.jpg?w=1024","fifu_image_alt":"","footnotes":""},"categories":[6],"tags":[],"class_list":["post-3317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pics-news"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/3317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3317"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/3317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/3318"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}