Indie Powerhouse Neon in Talks to Sell Stake to Department M
Neon, the Oscar-winning indie studio behind Parasite and Anora, is in talks to sell a substantial stake to Department M, a new production outfit formed by Mike Larocca and Michael Schaefer and backed by a consortium of private investors. Neon, founded in 2017 by Tom Quinn, has a credits list including international titles and the horror hit Longlegs, which grossed nearly $130 million. Department M’s slate reportedly includes Blood on Snow and a remake of The Hand That Rocks the Cradle. Both Neon and Department M declined to comment on the negotiations.