Neon, the studio behind Oscar-winners “Anatomy of a Fall'' and “Parasite,'' has signed a deal with Waypoint Entertainment, the production company behind “The Favorite'' and “The Nice Guys,'' to produce more. I decided to provide an intermediate work. Bringing low-budget movies to the big screen.
The deal follows the company's collaboration on Hunter Schaefer's horror film “Cuckoo,” which premiered at the Berlin Film Festival and SXSW. Waypoint's investment will allow Neon to expand its production and distribution efforts. It's something the New York-based distributor has been trying to do since seeking a sale in 2022 as a way to grow its business. Although a deal with investor Steven Lares, a wealthy businessman who founded the production company Indian Paintbrush, never materialized, Neon was able to expand its footprint. The company recently launched an international sales division to handle the film's worldwide distribution.
“Our joint venture is a great opportunity for underserved large independent films, especially those making $10 million or more, which are often overlooked by studios and streamers,” Ken Kao, co-founder and president of Waypoint, said in a statement. “We will focus on markets where we don't.” “This collaboration reflects our mutual ethos of championing cinema with innovative storytelling and ensuring it resonates deeply with hungry audiences.”
Details of the film will be announced at a later date.
“Ken Kao and the Waypoint team have long demonstrated a dedication and unique ability to create bold and beautiful films,” said Neon founder and CEO Tom Quinn. “We are extremely excited to join forces and continue to enhance neon filmmaking by some of the most revelatory and groundbreaking authors from around the world.”
Neon has a solid track record in award-winning supporting roles, but recent films such as Michael Mann's Ferrari and Ava DuVernay's Origin were box office flops, making it unlikely to attract Oscar attention. I couldn't do it. The studio's upcoming slate includes Steven Soderbergh's ghost thriller “Presence” and Pamela Adlon's comedy “Babes.”
Waypoint is executive producing a modern version of “Hamlet” starring Riz Ahmed and Nick Rowland's crime thriller “She Rides Shotgun,” directed by Taron Egerton.
The deal was negotiated by Neon's Ryan Friscia and Emily Thomas with Waypoint's Josh Rosenbaum and Alan Sacks of Frankfurt Kurnit Klein & Selz.
(Top photo: “Cuckoo” creative team)
