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8 months ago
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Neon has formed a strategic financial partnership with Ken Kao’s Waypoint Entertainment, the full-service production company behind The Favourite and The Nice Guys, to deliver a slate “of bold, genre-spanning films for savvy theatrical audiences,” the distributor said. The partners will focus on larger indies in the $10+ million range.
Neon said the investment will expand its production and distribution arms. A non-exclusive venture, it comes after Neon and Waypoint’s recent collaboration on Tilman Singer’s Cuckoo starring Hunter Schafer and Dan Stevens, which debuted in the U.S. at SXSW following its world premiere in Berlin last month. NEON will release Cuckoo in theaters this spring.
There were no details of Waypoint’s financial commitment or the number of films. Neon said further details on the slate will be announced in the near future.
Neon, which recently launched an international sales division, is set to handle global distribution on each title to ensure they reach the widest audience possible.
The deal was negotiated by Ryan Friscia and Emily Thomas for NEON with Waypoint’s Josh Rosenbaum and Alan Sacks at Frankfurt Kurnit Klein & Selz.
“Ken Kao and the Waypoint team have long demonstrated their commitment and unique ability to create bold, beautiful cinema,” said Neon founder and CEO, Tom Quinn. “We’re beyond thrilled to join forces and continue to ramp up NEON’s production of films from the most revelatory, groundbreaking auteurs around the globe.”
“I am excited to announce our strategic alliance with NEON to expand our slate,” said Ken Kao, co-founder and president of Waypoint. “Our joint venture will focus on the underserved market of larger independent films, specifically in the $10M+ range that often get overlooked by studios and streamers. This collaboration echoes our mutual ethos of championing films with innovative storytelling and ensuring they resonate deeply with hungry audiences.”
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