Department M, a production company launched two years ago by Mike Larocca and Michael Schaefer, is in talks to buy a significant stake in Neon. This is the Oscar-winning studio behind films like “Parasite” and “Anora.” Two sources familiar with the negotiations say that a group of private investors is backing Department M.
Neon has been on the market before. In 2022, they looked to sell but failed to reach an agreement with investor Steven Rales of Indian Paintbrush Productions.
Recently, Neon has produced several notable films. These include the Palme d’Or winner “It Was Just An Accident” and the horror hit “Longlegs,” which brought in around $130 million in 2025. The studio gained fame for its acclaimed projects, earning Oscars for Best Picture with “Parasite” and “Anora.” Founded in 2017 by Tom Quinn, Neon quickly positioned itself as a key player in independent cinema.
Department M has a promising lineup too. They are working on “Blood on Snow,” an adaptation of a Jo Nesbø novel featuring Aaron Taylor-Johnson and Benedict Cumberbatch, directed by Emmy winner Cary Joji Fukunaga. They’re also remaking “The Hand That Rocks the Cradle,” led by writer-director Michelle Garza Cervera.
As negotiations unfold, it’s interesting to note the trends in the film industry. An increase in collaborations among independent studios has been noted, with many looking to pool resources to compete with larger companies. This trend indicates a shift towards partnerships that could change how films are produced and distributed.
While Department M’s talks with Neon are ongoing, representatives from both companies have chosen not to comment on the situation. The outcome of these discussions could bring exciting changes to the indie film landscape.
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