Source: Toronto International Film Festival


Neon is reportedly exploring a sale of all or part of its assets and has retained the services of merchant bank Raine, according to an article in The New York Times.

The company co-founded in 2017 by Tom Quinn and Tim League is looking to grow its international distribution, television, streaming and production business. Sources have confirmed this to Screen.

Since launch, Neon has established itself as a purveyor of arthouse and left-field darlings, most recently winning the Palme d’Or with Triangle Of Sadness, its third Cannes triumph in a row after Oscar winner Parasite claimed the festival’s top prize in 2019 and Titane did so last year. Cannes was cancelled in 2020 amid the pandemic.

The company is also an avowed advocate of theatrical distribution. Parasite opened in late 2019 and went on to gross $53m in the US. Besides Ruben Ostlund’s Triangle Of Sadness this year’s release slate includes Brett Morgen’s David Bowie documentary Moonage Daydream.

A spokesperson for Neon had not returned calls at time of writing.

While the process may not yield a sale, it comes at a time when Hollywood deal-making is on a roll. Earlier this year A24 sold a minority stake for $225m with reports valuing that company at $2.5bn.