Sundance: 30WEST Takes Majority Ownership Stake in Indie Distributor Neon
The deal comes on the heels of the successful release of 'I, Tonya,' on which the two firms partnered.
30WEST, which joined forces with Neon to acquire and release I,Tonya, announced Friday that it has taken a majority ownership stake in Neon, the marketing and distribution company. As part of the deal, 30WEST has acquired SR Media’s interest in Neon.
Launched eight months ago by entrepreneur Dan Friedkin and Micah Green, the former co-head of CAA’s Finance and Sales Group, 30WEST provides capital and strategic guidance to film projects and companies. Initial projects in which is has become involved include Karyn Kusama’s Destroyer, starring Nicole Kidman, and Peter Hedges’ Ben Is Back, starring Julia Roberts. It has also acquired North American distribution rights to Michael Pearce’s debut feature Beast, a psychological thriller starring Jessie Buckley, Johnny Flynn and Geraldine James, which is set to be released, in partnership with Roadside Attractions, this spring.
In addition to I, Tonya, Neon, headed by Tom Quinn and Tim League, has released Matt Spicer’s Ingrid Goes West, starring Aubrey Plaza and Elizabeth Olsen, and Nacho Vigalondo’s Colossal, starring Anne Hathaway. Neon has also inked a streaming output deal with Hulu and formed a partnership with Blumhouse Productions to manage the genre label BH Tilt. On the production side, Neon’s co-acquisition of Harmony Korine’s The Beach Bum, starring Matthew McConaughey and Zac Efron, just completed production.
With offices in Los Angeles and New York, 30WEST also has been building up its executive roster, which includes former Black Bear co-president and COO Dan Steinman, who has joined the company as a partner; former CAA agents Tristen Tuckfield and Adam Paulsen; Sloss Law attorney Sarah Hong; and creative executive Katie Anderson.
CAA repped SR Media in the deal.