# Oscar-Winning Studio Neon Sells Stake to Department M

Neon, the studio behind Oscar-winning film 'Anora' and hits like 'Longlegs,' has sold a minority stake to Department M. The deal brings new capital to the independent distributor known for championing arthouse films. This move signals continued investor interest in boutique studios with strong cultural cachet.

**Importance:** 3/5

## Sources

### Entertainment
- [Variety](https://variety.com/2026/film/news/neon-anora-longlegs-sells-stake-department-m-1236806707/) — Fri, 10 Jul 2026 18:30:00 +0000