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Neon Sells Significant Stake to ‘The Christophers’ Producers Department M, Launches Neon TV
Department M Partner Michael Schaefer, formerly president of New Regency, becomes the distributor's chief content officer, while former AGBO president Mike Larocca joins Neon's board.
Summary
Neon has closed a transaction for production company Department M to acquire a significant stake in the distributor, the companies announced Friday. The deal will further help Neon expand its reach and operations while enabling the brand to launch a new television division, Neon TV . The news follows IndieWire’s reporting from February that the upstart production banner — founded in 2024 and behind this year’s Neon release “The Christophers” — was exploring taking a stake. Financial details were not disclosed.
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