Neon Partners With Department M, Appoints New Chief Content Officer

WHO:

Deadline - Department M, led by Mike Larocca and Michael Schaefer, has acquired a majority stake in Neon.

Variety - Tom Quinn is the founder of Neon and will remain CEO after the transaction.

WHAT:

Deadline - The transaction allows Neon to launch Neon TV and expand its operations.

Variety - Financial terms of the deal were not disclosed.

WHERE:

Deadline - Neon is based in Santa Monica, CA.

HOW:

Deadline - The acquisition is described as a transaction that infuses capital into Neon’s operations.

(UPDATED July 10, 2026 19:26 UTC)

Department M, led by Mike Larocca and Michael Schaefer, has acquired a majority stake in Neon, which is based in Santa Monica, California. Tom Quinn, the founder of Neon, will remain CEO following the transaction, which allows the company to launch Neon TV and expand its operations. While the financial terms of the deal were not disclosed, it is described as a transaction that infuses capital into Neon’s operations.