With the Sundance Film Festival just a month away, a potential new film buyer is emerging on the market.

Warner Bros. Motion Picture Group heads Pamela Abdy and Michael de Luca are launching a new label that will specialize in global theatrical releases of “contemporary” films, IndieWire has confirmed. The currently untitled division will be led by departing Neon Chief Marketing Officer Christian Parkes, who announced his plans to leave the indie distributor on December 12.

He’ll be joined by Neon colleagues Jason Walde, who will serve as Head of Acquisitions & Production; and Spencer Collantes, who will be named VP, Marketing & Creative.

Parkes, whose official title at the new venture will be Chief Content Officer, is known for overseeing Neon’s marketing during its Best Picture-winning Oscar campaigns for “Parasite” and “Anora.” Other major releases under his leadership included “Anatomy of a Fall,” “Triangle of Sadness,” “Titane,” “Longlegs,” and this year’s Palme d’Or winner, “It Was Just an Accident.”

“We firmly believe in the power of storytelling and have worked to create a home at the studio for filmmakers who share the high standards of creative excellence that Warner Bros. has upheld for over a century,” Abdy and De Luca said in a statement. “As the global theatrical marketplace continues to embrace fresh ideas and welcome new audiences, we are excited that Christian will lead our efforts to amplify the voices of bold, audacious, and original storytellers. The new labelwill fearlessly champion unique perspectives from both established and emerging talent, and we are grateful to David Zaslav and the company’s leadership for their ongoing passion and support in making this label possible.”

“I’ve spent my life marveling at the Cinema of Warner Bros.; my education came from Peckinpah, Miller, Friedkin, and Kubrick. To be a part of this studio’s future and the transformative change that Pam and Mike are creating is an honor and an exhilarating opportunity to collaborate with some of the world’s best filmmakers,” Parkes added.

The announcement comes after a year of high highs and significant uncertainty for Warner Bros. The film division dominated Hollywood in 2025, releasing critically acclaimed blockbusters such as “Sinners,” “One Battle After Another,” “Weapons,” and “F1.” The hits turned Abdy and De Luca into the toast of Hollywood despite beginning the year with public uncertainty about their job status after “Joker: Folie a Deux” flopped in 2024.

But those theatrical successes did not prevent the studio from being put up for sale, and Netflix agreed to acquire it after winning a bidding war that also included Paramount. If the $82.7 billion dollar deal closes, it will put the Warner Bros. brand under the control of Netflix, which has been famously averse to theatrical distribution. Many expect the studio’s exclusive theatrical windows to significantly shrink, and it remains to be seen how that will impact plans for the new theatrically focused label.

For now, a new potential buyer will be welcomed at Sundance. The new division will join a small group of serious landing spots for festival breakouts that includes A24, MUBI, and Parke’s old home, Neon.

News of the new label was first reported by Deadline.