U.S.-based distributor Neon, which handled best picture winner “Parasite,” has closed on a revolving credit facility with Mufg Union Bank.
The three-year-old company did not disclose the dollar amount of the facility. Neon said it will use the capital to continue building upon its core film business, as well as to expand its production slate.
“Parasite” landed four Academy Awards and grossed over $54 million at the domestic box office, the third-best result ever for a foreign-language film in the U.S. Neon recently launched Matt Wolf’s Sundance documentary “Spaceship Earth” across traditional and non-traditional venues, as a way to address current social-distancing limitations due to Covid-19.
Neon has amassed a library of titles that include Todd Douglas Miller’s “Apollo 11,” the highest grossing documentary of 2019; Tim Wardle’s Sundance special jury award winner “Three Identical Strangers,” which made $13 million at the box office; and Craig Gillespie’s “I, Tonya,...
The three-year-old company did not disclose the dollar amount of the facility. Neon said it will use the capital to continue building upon its core film business, as well as to expand its production slate.
“Parasite” landed four Academy Awards and grossed over $54 million at the domestic box office, the third-best result ever for a foreign-language film in the U.S. Neon recently launched Matt Wolf’s Sundance documentary “Spaceship Earth” across traditional and non-traditional venues, as a way to address current social-distancing limitations due to Covid-19.
Neon has amassed a library of titles that include Todd Douglas Miller’s “Apollo 11,” the highest grossing documentary of 2019; Tim Wardle’s Sundance special jury award winner “Three Identical Strangers,” which made $13 million at the box office; and Craig Gillespie’s “I, Tonya,...
- 5/13/2020
- by Dave McNary
- Variety Film + TV
Tom Quinn and Tim League’s Neon has partnered with Mufg Union Bank on a new revolving credit facility that will help the 3-year-old film company continue to grow its film footprint, Neon announced Wednesday.
The amount of the deal was not disclosed, but a studio spokesperson described it is “significant.” The “Parasite” studio will use the capital to build upon its core film business and expand its production slate.
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.
Also Read: Neon to Release 'Spaceship Earth' Via Pop-Up Projections and Virtual Cinemas Amid Coronavirus
Like all others in Hollywood has seen the effects of Covid-19, Neon has sought fresh ways to release content.
The amount of the deal was not disclosed, but a studio spokesperson described it is “significant.” The “Parasite” studio will use the capital to build upon its core film business and expand its production slate.
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.
Also Read: Neon to Release 'Spaceship Earth' Via Pop-Up Projections and Virtual Cinemas Amid Coronavirus
Like all others in Hollywood has seen the effects of Covid-19, Neon has sought fresh ways to release content.
- 5/13/2020
- by Brian Welk
- The Wrap
Neon, distributor of multi-Oscar winning and Best Picture Parasite, has inked a revolving credit facility with Mufg Union Bank.
Neonwill use the capital to continue building upon its core film business, and to expands its production slate.
Tom Quinn, Jessica Nickelsberg, Jeff Deutchman, and Jim Wehrfritz negotiated the deal on behalf of Neon along with Mufg Director Matt Rosenberg and Managing Director Tony Beaudoin. Neon is repped by Sidley Austin and Mufg Union Bank by Akin Gump Strauss Hauer & Feld Llp.
Parasite, which was the first South Korean movie to take home the Cannes Film Festival Palme D’Or a year ago, went on to win four Oscars including Best Picture, Best Director for Bong Joon Ho, Best Original Screenplay and Best International Feature. Within a three year span, Neon has built a 50 film library, which has yielded $150M at the box office, plus 12 Oscar noms and five wins.
Last Friday,...
Neonwill use the capital to continue building upon its core film business, and to expands its production slate.
Tom Quinn, Jessica Nickelsberg, Jeff Deutchman, and Jim Wehrfritz negotiated the deal on behalf of Neon along with Mufg Director Matt Rosenberg and Managing Director Tony Beaudoin. Neon is repped by Sidley Austin and Mufg Union Bank by Akin Gump Strauss Hauer & Feld Llp.
Parasite, which was the first South Korean movie to take home the Cannes Film Festival Palme D’Or a year ago, went on to win four Oscars including Best Picture, Best Director for Bong Joon Ho, Best Original Screenplay and Best International Feature. Within a three year span, Neon has built a 50 film library, which has yielded $150M at the box office, plus 12 Oscar noms and five wins.
Last Friday,...
- 5/13/2020
- by Anthony D'Alessandro
- Deadline Film + TV
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