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NEON Exploring Sale As It Taps Merchant Bank Raine – Deadline

The unbiased movie distributor based by Tom Quinn and Tim League which broke by way of on the 2020 Oscars with Parasite, the primary international language title to win Best Picture, is trying to be offered, Deadline has confirmed from sources.

NEON is hoping to department out extra into tv and streaming, and bulk up its manufacturing pipeline. The proven fact that A24 notched a $225M fairness funding again in March offers hope that some or all of NEON’s companies might be offered. Reports are that A24 at the moment was valued at $2.5 billion. It’s unclear presently what NEON could be price.

The distributor has had a current streak of distributing these motion pictures successful the Palme d’Or on the Cannes Film Festival, beginning with 2019’s Parasite from Bong Joon Ho, and persevering with on with Julia Ducournau’s Titane, and this year’s comedic crowdpleaser Triangle of Sadness from Ruben Ostlund.

NEON turned Parasite into one of many prime grossing international movies within the U.S./Canada, grossing $53.3M; the pic making altogether $263.1M WW. The film gained 4 Oscars together with Best Picture, Best Director for Bong Joon Ho, Original Screenplay and International Film. The pic was nominated for six Oscars.

NEON additionally had at Cannes this year the David Bowie documentary Moonage Daydream and David Cronenberg’s Crimes of the Future starring Kristen Stewart, Lea Seydoux and Viggo Mortensen. The distributor’s different prime grossing motion pictures embody the Oscar successful I, Tonya which made $30M and the breakout documentary hit Three Identical Strangers which made $12M on the home B.O.

The New York Times was the primary to report the information about NEON.

NEON declined to remark for the story.

 

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