A consortium of private investors is backing Department M in the effort, according to two sources with knowledge of the negotiations. Department M was financed by private investors when it launched in 2024.
Neon previously explored a sale in 2022, but a deal with investor Steven Rales, the businessman behind the production company Indian Paintbrush, failed to materialize.
Neon’s recent credits include Joachim Trier’s “Sentimental Value”; Jafar Panahi’s Palme d’Or winner, “It Was Just An Accident”; Kleber Mendonça Filho’s “The Secret Agent”; Oliver Laxe’s “Sirât”; Park Chan-wook’s “No Other Choice”; and Ugo Bienvenu’s “Arco.” It has also backed the horror film “Longlegs,” a massive box office hit that grossed nearly $130 million when…
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