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‘Parasite’ Distributor Neon Closes Deal for Credit Facility With MUFG Union Bank
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variety.comBy Dave McNary Film Reporter U.S.-based distributor Neon, which handled best picture winner “Parasite,” has closed on a revolving credit facility with MUFG Union Bank.
The three-year-old company did not disclose the dollar amount of the facility. Neon said it will use the capital to continue building upon its core film business, as well as to expand its production slate. “Parasite” landed four Academy Awards and grossed over $54 million at the domestic box office, the third-best result ever for a foreign-language film in the U.S.
Neon recently launched Matt Wolf’s Sundance documentary “Spaceship Earth” across traditional and non-traditional venues, as a way to address current social-distancing limitations due to COVID-19.
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