Neon Sells Majority Stake To Department M, With Michael Schaefer Named Chief Content Officer Of ‘Anora’ & ‘Parasite’ Studio; Neon TV Launches

Mike Larocca and Michael Schaefer’s Department M has closed a transaction to acquire a majority stake in multi Oscar- and Cannes Palme d’Or-winning studio Neon. The deal, in addition to infusing capital to Neon’s expanding operations, allows the Santa Monica, CA studio to launch Neon TV, creating a more significant mini-studio that already counts an international […]