Neon, Oscar-Winning Studio Behind ‘Anora’ and ‘Longlegs,’ Sells Stake to Department M

Department M has completed a transaction to acquire a majority stake in Neon, the Oscar-winning studio known for Parasite and Anora. While financial terms remain undisclosed, the deal provides capital for expanding operations and the launch of Neon TV. Tom Quinn will continue serving as CEO of the Santa Monica-based company, while Michael Schaefer has been named Chief Content Officer. This strategic move transforms the indie studio into a more significant mini-studio entity.