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Story summary
- Department M, founded by Mike Larocca and Michael Schaefer, is negotiating to acquire a significant stake in Neon, a deal backed by private investors.
- Neon, established in 2017, is the studio behind Oscar winners Parasite and Anora and has seen success with films like Longlegs.
- The talks come after Neon’s executives departed to create a new label at Warner Bros., and both Neon and Department M declined to comment.
