Neon in Talks to Sell Major Stake to Production Company Department M

Mike Larocca and Michael Schaefer are behind the company that was launched in 2024. 2025 / Anora Sean Baker won the PGA and DGA awards on the same night last awards season, then went on to take the WGA’s original screenplay prize, while Nickel Boys won adapted. Courtesy of NEON Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Production outfit Department M is in talks to acquire a major stake in Anora distributor Neon. Mike Larocca and Michael Schaefer’s Department M is being backed by a consortium of private investors, including Forta Advisors, which backed Department M at its launch two years ago. Larocca and Schaefer spent years as producers before breaking off to raise financing to form Department M. Larocca was a longtime right hand to the Russo Bros, co-founding their banner AGBO and producing films such as Extraction and The Grey Man and Cherry before departing. Schaefer worked for Ridley Scott at Scott Free, earning an Oscar nomination for producing The Martian, and spent almost seven years at New Regency before co-founding Department M. More to come. Read More About: Department M THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up More from The Hollywood Reporter social media OpenAI Poaches Instagram’s Celebrity Consigliere to Lead Creative Partnerships