Neon Sells Stake to Indie Studio Department M
Originally published Jul 10, 2026
By Umberto Gonzalez · TheWrap
AI-generated summary based on TheWrap · Aggregated by Filmarian · Human-reviewed and approved on Jul 10, 2026
Key points
- Neon sold a significant stake to Department M, providing growth capital for the distributor.
- Department M will contribute development assets and production-ready projects to Neon.
- Tom Quinn will remain CEO of Neon, while Michael Schaefer will become chief content officer.
- The Friedkin Group remains a major shareholder and board member of Neon.
Neon has officially sold a significant stake to indie production company Department M, providing growth capital for the distributor. The deal includes contributions from Department M, such as development assets and production-ready projects. Neon founder Tom Quinn will remain CEO, while Department M partner Michael Schaefer will join as chief content officer. Longstanding backers The Friedkin Group will continue as major shareholders and board members. Neon has established itself as a leading distributor of international cinema in the U.S., with recent successes including the release of 'Parasite' and several Oscar-nominated films.
Read the original story: TheWrap — by Umberto Gonzalez