NEON announced today that it has closed on a revolving credit facility with Comerica Bank. The deal sees an expansion from the Academy Award®-winning studio’s previous credit facility, with the intention of building upon its core film business, as well as aggressively expanding its production slate.
Derek Riedel, SVP of Comerica Bank’s Entertainment Group, stated: “Comerica is ecstatic to establish a relationship with Tom and the NEON team as they enter this new phase of exciting growth. The Company has been a market leader since their formation and continues to acquire, produce and release dynamic films in the marketplace. We couldn’t be more thrilled to be their partner moving forward.”
The deal comes after NEON claimed its third consecutive Palme d’Or (following Parasite and Titane) for Ruben Östlund’s Triangle of Sadness, and acquired Laura Poitras’ critically-acclaimed documentary All the Beauty and the Bloodshed, which won the Golden Lion at the Venice Film Festival, and the Toronto International Film Festival breakout heist thriller How to Blow Up a Pipeline, which marked one of the festival’s only major acquisitions. The NEON slate also includes Kore-eda’s Broker starring Cannes Best Actor winner Song Kang Ho (Parasite).
The studio has several projects in various stages of development and production including: 2073, a visionary documentary from Academy Award-winning director Asif Kapadia; The Painter and the Thief narrative remake; Brandon Cronenberg’s Infinity Pool starring Alexander Skarsgård; Joshua Oppenheimer’s The End, a golden-age musical starring Academy Award Winner Tilda Swinton; the documentary, Seeking Mavis Beacon from director Jazmin Jones; Cassandra at the Wedding based on the Dorothy Baker novel; Kitty Green’s The Royal Hotel, starring Julia Garner; and Tilman Singer’s Cuckoo, the feature film debut of Hunter Schafer.