{"id":128649,"date":"2022-08-03T16:37:24","date_gmt":"2022-08-03T16:37:24","guid":{"rendered":"https:\/\/fin2me.com\/?p=128649"},"modified":"2022-08-03T16:37:24","modified_gmt":"2022-08-03T16:37:24","slug":"neon-exploring-sale-as-it-taps-merchant-bank-raine","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/neon-exploring-sale-as-it-taps-merchant-bank-raine\/","title":{"rendered":"Neon Exploring Sale As It Taps Merchant Bank Raine"},"content":{"rendered":"

Neon, the independent film distributor founded by Tom Quinn and Tim League and which broke through at the 2020 Oscars with Parasite,<\/em> the first foreign-language title <\/em>to win Best Picture, is looking to be sold, Deadline has confirmed from sources.<\/p>\n

The company is hoping to branch out more into television and streaming, and bulk up its production pipeline. The fact that A24 notched a $225 million equity investment in March provides hope that some or all of Neon’s businesses could be sold. Reports are that A24 at that time was valued at $2.5 billion. It’s unclear at this time what Neon would be worth.<\/p>\n

The distributor has had a recent streak of distributing those movies winning the Palme d’Or at the Cannes Film Festival, starting with 2019’s Parasite<\/em> from Bong Joon Ho. It continued with Julia Ducournau’s Titane <\/em>and this year’s comedic crowdpleaser Triangle of Sadness <\/em>from Ruben Ostlund.<\/p>\n

Neon turned Parasite <\/em>into one of the top-grossing foreign films in the U.S.\/Canada, grossing $53.3 million; the pic altogether made $263.1M worldwide. The movie won four Oscars including Best Picture, Best Director, Original Screenplay and International Film. The pic was nominated for six Oscars.<\/p>\n

Neon also had at Cannes this year the David Bowie documentary Moonage Daydream <\/em>and David Cronenberg’s Crimes of the Future <\/em>starring Kristen Stewart, Lea Seydoux and Viggo Mortensen. The distributor’s other top-grossing movies include the Oscar-winning I, Tonya, <\/em>which made $30M, and the breakout documentary hit Three Identical Strangers <\/em>which made $12M at the domestic B.O.<\/p>\n

The New York Times <\/em>was the first to report the news about Neon.<\/p>\n

Neon declined to comment for the story.<\/p>\n

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Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Neon, the independent film distributor founded by Tom Quinn and Tim League and which broke through at the 2020 Oscars with Parasite, the first foreign-language title to […]<\/p>\n","protected":false},"author":3,"featured_media":128648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nNeon Exploring Sale As It Taps Merchant Bank Raine - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/neon-exploring-sale-as-it-taps-merchant-bank-raine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neon Exploring Sale As It Taps Merchant Bank Raine - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Neon, the independent film distributor founded by Tom Quinn and Tim League and which broke through at the 2020 Oscars with Parasite, the first foreign-language title to [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/neon-exploring-sale-as-it-taps-merchant-bank-raine\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-03T16:37:24+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2022\/08\/Neon-Exploring-Sale-As-It-Taps-Merchant-Bank-Raine.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/neon-exploring-sale-as-it-taps-merchant-bank-raine\/\",\"url\":\"https:\/\/fin2me.com\/business\/neon-exploring-sale-as-it-taps-merchant-bank-raine\/\",\"name\":\"Neon Exploring Sale As It Taps Merchant Bank Raine - 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