NEON announces that it has closed on a revolving credit facility with MUFG Union Bank. The deal comes after the company recently made history with four Academy Award wins for Bong Joon Ho’s Parasite, including Best Picture, Best Director, Best Original Screenplay and Best International Feature. On May 8, NEON launched Matt Wolf’s highly acclaimed Sundance documentary, Spaceship Earth, across an innovative footprint of both traditional and non-traditional venues, as a way to address current social-distancing limitations triggered by COVID-19. NEON will use the capital to continue building upon its core film business, as well as to expand its production slate.
In just three years, NEON has garnered 12 Oscar nominations winning 5 Academy Awards, grossed more than $150 million in box-office, and amassed a library of more than 50 films including Todd Douglas Miller’s Award winning Apollo 11, the highest grossing documentary in 2019; Tim Wardle’s Three Identical Strangers, winner of the Sundance Special Jury Award, which surpassed $13 million at the box office; and Craig Gillespie’s I, Tonya, which garnered three Academy Award® nominations, one win for Allison Janney, and more than $30 million in box-office revenues in North America.
Tom Quinn, Jessica Nickelsberg, Jeff Deutchman, and Jim Wehrfritz negotiated the deal on behalf of the studio along with MUFG Director Matt Rosenberg and Managing Director Tony Beaudoin. NEON is represented by Sidley Austin and MUFG Union Bank by Akin Gump Strauss Hauer & Feld LLP.
The company continues to be a force, with recent acquisitions including Pig starring Nicolas Cage; Brandon Cronenberg’s Possessor; Max Barbakow’s sought after Palm Springs starring Andy Samberg, which NEON acquired with Hulu; Josephine Decker’s Shirley starring Elisabeth Moss; The Painter and the Thief, directed by Benjamin Ree; Amy Seimetz’s SXSW critical sensation, She Dies Tomorrow; and the documentary Gunda, directed by Viktor Kossakovsky and executive produced by Joaquin Phoenix. Recent releases include the critically acclaimed Cannes hit Portrait of a Lady on Fire, which was nominated for Best Foreign Film at the Golden Globes® and Independent Spirit Awards; Tamara Kotevska and Ljubo Stefanov’s award-winning and record- breaking Honeyland, which is the first non-fiction feature to land Academy Award® nominations for Best Documentary and Best International Feature Film in the same year; Alejandro Landes’ cinematic thriller Monos (the Colombian selection for the Academy Awards®); Severin Fiala’s and Veronika Franz’s horror film The Lodge starring Riley Keough; Julius Onah’s Luce starring Naomi Watts and Octavia Spencer; Tom Harper’s Wild Rose starring Jessie Buckley; John Chester’s The Biggest Little Farm; Chinonye Chukwu’s Clemency starring Academy Award® Nominee Alfre Woodard; and the electrifying documentary about Aretha Franklin, Amazing Grace.
After their successful collaboration on I, Tonya, in January 2018, 30WEST (Dan Friedkin’s and Micah Green’s strategic venture) partnered with NEON’s Tom Quinn (Founder & CEO) and Tim League (Co-Founder) to become majority investors in the company.