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.
