Neon Exploring Sale As It Faucets Service provider Financial institution Raine

Neon, the impartial movie distributor based via Tom Quinn and Tim League and which broke via on the 2020 Oscars with Parasite, the primary foreign-language name to win Best possible Image, is taking a look to be bought, Cut-off date has showed from resources.

The corporate is hoping to department out extra into tv and streaming, and bulk up its manufacturing pipeline. The truth that A24 notched a $225 million fairness funding in March supplies hope that some or all of Neon’s companies might be bought. Stories are that A24 at the moment was once valued at $2.5 billion. It’s unclear presently what Neon could be price.

The distributor has had a up to date streak of distributing the ones motion pictures successful the Palme d’Or on the Cannes Movie Pageant, beginning with 2019’s Parasite from Bong Joon Ho. It persisted with Julia Ducournau’s Titane and this 12 months’s comedic crowdpleaser Triangle of Disappointment from Ruben Ostlund.

Neon became Parasite into some of the top-grossing overseas motion pictures within the U.S./Canada, grossing $53.3 million; the pic altogether made $263.1M international. The film gained 4 Oscars together with Best possible Image, Best possible Director, Authentic Screenplay and World Movie. The pic was once nominated for 6 Oscars.

Neon additionally had at Cannes this 12 months the David Bowie documentary Moonage Daydream and David Cronenberg’s Crimes of the Long run starring Kristen Stewart, Lea Seydoux and Viggo Mortensen. The distributor’s different top-grossing motion pictures come with the Oscar-winning I, Tonya, which made $30M, and the breakout documentary hit 3 Similar Strangers which made $12M on the home B.O.

The New York Occasions was once the primary to record the inside track about Neon.

Neon declined to remark for the tale.