A newly minted distribution company, Neon, has bought rights to Aaron Katz's film Gemini out of SXSW. This marks the first major acquisition during the course of the festival.

Neon co-founders Tom Quinn, formerly of TWC's RadiUs, and Tim League, of Alamo Drafthouse, are positioning the company as a direct competitor to innovative, millennial-savvy distributors such as A24. Quinn and League launched the company just before Sundance this year, where they bought Eliza McNitt's Beach Rats, Matt Spicer's Ingrid Goes West, and Michael Larnell's hip-hop drama Roxanne Roxanne, each deal reportedly landing around $3 million.

Gemini is a neo-noir murder mystery set in Los Angeles. It stars Lola Kirke, Zoë Kravitz, and John Cho as a personal assistant, celebrity, and policeman caught at the epicenter of a heinous crime.

"I love watching movies in theaters and it matters a lot to me to partner with a company that puts the theatrical experience first," said Katz, who previously directed Land, Ho!. "Having the film world premiere at SXSW was also exciting. Being able to now bring this film to a wider audience with a great partner is all I could have hoped for."

For more, see our complete coverage of the 2017 SXSW Film Festival.

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