NEON Potentially Looking For a Buyer?

NEON, the film distributor responsible for titles such as the Best Picture Oscar-winner Parasite, and last year’s powerful Spencer, is looking to be sold. Parasite made history when it was the first foreign film to win the Academy Award for Best Picture.

It has been reported that A24 acquired a $225 million equity investment this past March, suggesting that not all of NEON’s businesses might be sold. The distributor is said to be looking to get more involved with television and streaming, while also expanding its theatrical slate. It is not certain at the moment what NEON is actually worth.

The distributor is no stranger to winning the prestigious Palme D’Or Award at the Cannes Film Festival, given how it has done so in separate times, including in 2019, when they won the prize with Bong Joon-Ho‘s Parasite.

When it comes to this year, the distributor attended the festival with the David Bowie documentary titled Moonage Daydream and David Cronenberg‘s Crimes of the Future. Neon’s highest grossing film is currently I, Tonya, starring Margot Robbie and released in 2017.

Source: Deadline