Department M and Neon talks could redefine indie film distribution
Talks are underway between Department M and Neon, a deal that could reshape Hollywood's indie film scene. If finalised, the partnership would create a well-funded mini studio with a proven track record. Industry insiders have been discussing the potential move since the European Film Market in Berlin earlier this year.
Department M, founded by Mike Larocca and Michael Schaefer, is negotiating a major stake in Neon. The distributor has built a strong reputation, backing award-winning films like Anora and multiple Palme d'Or winners. Its recent successes include two Best Picture Oscars and several box office hits.
The deal may bring changes for Neon's current backer, 30West, with new investors and possible shifts in leadership. Tom Quinn, Neon's boss, would likely remain in charge under Department M's ownership. Quinn had previously stated that the company was open to offers, and interest from buyers has been strong.
Neon has faced recent setbacks, including the departure of three top executives to Warner Bros. The studio's new indie label at Warner Bros has added competition in the sector. Variety first broke the news of the talks, highlighting the potential impact on high-end film distribution.
A combined Department M and Neon would form a powerful player in independent cinema. The new structure could bring fresh investment and leadership while keeping Quinn at the forefront. The outcome may also redefine 30West's role in the company's future.
