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Neon Strikes Partnership With Waypoint Entertainment to Finance Mid-Budget Movies
Neon has ironed out a deal with Waypoint Entertainment to finance mid-budget movies.
Neon, the studio that backed Oscar-winners “Anatomy of a Fall” and “Parasite,” has ironed out a deal with Waypoint Entertainment, the production company behind “The Favourite” and “The Nice Guys,” to bring more mid-budget movies to the big screen. “Our joint venture will focus on the underserved market of larger independent films, specifically in the $10 million-plus range that often get overlooked by studios and streamers,” said Ken Kao, co-founder and president of Waypoint, in a statement. Though Neon has a solid track record in backing awards fare, recent releases like Michael Mann’s “Ferrari” and Ava DuVernay’s “Origin” failed to get Oscar attention after misfiring at the box office.
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