Neon Sells Significant Stake to ‘The Christophers’ Producers Department M, Launches Neon TV

Neon has sold a significant stake to Department M, a production company co-founded by Michael Schaefer and Mike Larocca. This strategic move positions Neon to launch Neon TV, expanding its digital platform. Schaefer, formerly of New Regency, now takes on the role of Neon’s chief content officer, bringing his extensive experience in film distribution and production. This partnership is crucial as it underscores Neon’s commitment to bolstering its content library and enhancing its streaming service, aiming to compete more effectively in the crowded entertainment market.