Neon — the indie distributor founded by Tom Quinn that found box office success with art house titles like Parasite and recently with Sean Baker’s Anora — has secured a $200 million credit facility with a lending consortium led by Comerica Bank.
The revolver will help grow Neon’s operations, including film acquisition, development, production, and distribution, while also driving the indie studio into new international markets. In 2022, Neon secured a revolving credit facility with Comerica Bank to expand the studio’s previous credit facility.
The latest funding will also help grow Neon’s production efforts. The studio’s upcoming film development and production slate includes the Boots Riley feature I Love Boosters, starring Keke Palmer, Naomi Ackie and LaKeith Stanfield; They Follow, the sequel to the horror classic It Follows from writer/director David Robert Mitchell, and starring Maika Monroe; and Michael Covino’s Splitsville, starring Dakota Johnson and Adria Arjona.
The financing deal was negotiated by Neon CFO Ryan Friscia, and follows the release of Baker’s Anora, which stars Mikey Madison and won the Palme d’Or in Cannes, and Osgood Perkins’ horror film Longlegs, which has grossed around $75 million in domestic box office.
Derek Riedel, senior vp of the entertainment group at Comerica Bank, said in a statement: “Comerica believes in the vision of Neon and couldn’t be more thrilled to support their continued growth. Their ability to identify and curate film, while finding innovative ways to connect audiences with cinema, is unmatched.”
Upcoming Neon releases include Iranian director Mohammad Rasoulof’s The Seed of the Sacred Fig; Josh Oppenheimer’s The End, starring Tilda Swinton; and the documentary 2073 from Oscar winner Asif Kapadia, which bowed in Venice.
English (US) ·