#WrapPro: With a Best Picture Oscar fresh on its mantle after the triumph of “#Anora” in March, #Neon is headed to its favorite festival, #Cannes, riding high. The arthouse studio founded in 2017 has every reason to feel confident, having released the past five consecutive Palme d’Or winners, and arriving on the Croisette next week with four films in the official lineup: “#Alpha” by #JuliaDucournau, “#SentimentalValue” by #JoachimTrier, “#Orwell” by #RaoulPeck and “#Splitsville” by #MikeCavino. It’s natural for studio co-founder and CEO #TomQuinn to think about capitalizing on the moment, plot to expand his arthouse success and see his small but mighty endeavor financially headed in the direction of his rival #A24, last valued at $3.5 billion. But in a sign of complicated times for M&A in general and arthouse studios in particular, Neon remains in a nether space, with a valuation bankers and dealmakers put at only $200-$250 million. 🔗 link in bio for more on this story. #or