By Brent Lang
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Executive Editor
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Courtesy of Neon 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 Magnolia, will remain CEO of the company. Michael Schaefer, a partner in Department M, will become Neon’s chief content officer, while Mike Larocca, another partner in Department M, won’t move over to Neon but will join its board.
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