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NEON Mints New Partnership with MUFG Union Bank

The studio that brought “Parasite” to Best Picture glory announced the partnership…

Read the Press Release from earlier this week.

NEW YORK, NY (May 13, 2020) – NEON announced today that it has closed on a revolving credit facility with MUFG Union Bank. The deal comes after the company recently made history with four Academy Award® wins for Bong Joon Ho’s Parasite, including Best Picture, Best Director, Best Original Screenplay and Best International Feature. On May 8, NEON launched Matt Wolf’s highly acclaimed Sundance documentary, Spaceship Earth, across an innovative footprint of both traditional and non-traditional venues, as a way to address current social-distancing limitations triggered by COVID-19. NEON will use the capital to continue building upon its core film business, as well as to expand its production slate.

In just three years, NEON has garnered 12 Oscar nominations winning 5 Academy Awards, grossed more than $150 million in box-office, and amassed a library of more than 50 films including Todd Douglas Miller’s Award winning Apollo 11, the highest grossing documentary in 2019; Tim Wardle’s Three Identical Strangers, winner of the Sundance Special Jury Award, which surpassed $13 million at the box office; and Craig Gillespie’s I, Tonya, which garnered three Academy Award® nominations, one win for Allison Janney, and more than $30 million in box-office revenues in North America.

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.

The company continues to be a force, with recent acquisitions including Pig starring Nicolas Cage; Brandon Cronenberg’s Possessor; Max Barbakow’s sought after Palm Springs starring Andy Samberg, which NEON acquired with Hulu; Josephine Decker’s Shirley starring Elisabeth Moss; The Painter and the Thief, directed by Benjamin Ree; Amy Seimetz’s SXSW critical sensation, She Dies Tomorrow; and the documentary Gunda, directed by Viktor Kossakovsky and executive produced by Joaquin Phoenix.  Recent releases include the critically acclaimed Cannes hit Portrait of a Lady on Fire, which was nominated for Best Foreign Film at the Golden Globes® and Independent Spirit Awards; Tamara Kotevska and Ljubo Stefanov’s award-winning and record- breaking Honeyland, which is the first non-fiction feature to land Academy Award® nominations for Best Documentary and Best International Feature Film in the same year; Alejandro Landes’ cinematic thriller Monos (the Colombian selection for the Academy Awards®); Severin Fiala’s and Veronika Franz’s horror film The Lodge starring Riley Keough; Julius Onah’s Luce starring Naomi Watts and Octavia Spencer; Tom Harper’s Wild Rose starring Jessie Buckley; John Chester’s The Biggest Little Farm; Chinonye Chukwu’s Clemency starring Academy Award® Nominee Alfre Woodard; and the electrifying documentary about Aretha Franklin, Amazing Grace.

After their successful collaboration on I, Tonya, in January 2018, 30WEST (Dan Friedkin’s and Micah Green’s strategic venture) partnered with NEON’s Tom Quinn (Founder & CEO) and Tim League (Co-Founder) to become majority investors in the company.

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ABOUT MUFG UNION BANK

As of December 31, 2019, MUFG Union Bank, N.A. operated 349 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of our clients.  We also offer an extensive portfolio of value-added solutions for clients, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services.  With assets of $133.2 billion, as of December 31, 2019, MUFG Union Bank has strong capital reserves, credit ratings and capital ratios relative to peer banks.  MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world’s largest financial organizations with total assets of approximately ¥314.4 trillion (JPY) or $2.9 trillion (USD)¹, as of December 31, 2019. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, Calif.

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Written by Clayton Davis

Clayton Davis is the esteemed Editor and Owner of AwardsCircuit.com. Born in Bronx, NY to a Puerto Rican mother and Black father, he’s been criticizing film and television for over a decade. Clayton is a member of the Broadcast Film Critics Association where he votes and attends the kick off to the awards season, the Critics Choice Awards. He also founded the Latino Entertainment Journalists Association, the first Latino-based critics’ organization in the United States. He’s also an active member of the African-American Film Critics Association, New York Film Critics Online, International Press Academy, Black Reel Awards, and the Broadcast Television Journalists Association. Clayton has been quoted and appeared in various outlets that include The New York Times, CNN.com, Variety, Deadline, Los Angeles Times, FOX 5, Bloomberg Television, AOL, Huffington Post, Bloomberg Radio, The Wrap, Slash Film, and the Hollywood Reporter.

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