sony surprisingly acquires alamo drafthouse cinema

Sony Pictures Entertainment has officially acquired Alamo Drafthouse Cinema, contributing to the newly-established Sony Pictures Experiences division. All 35 existing Alamo Drafthouse locations will continue normal operations for the time being. This significant move follows the 2020 repeal of the Paramount Consent Decrees, which permits movie studios to own theater chains once more. The acquisition also includes the Fantastic Fest film festival. Despite some bankruptcy-related closures last week, Sony intends to continue welcoming all studio and distributor content in existing theaters.

For now, all current Alamo Drafthouse theaters will continue normal operations, with Sony emphasizing continued content from a variety of studios and distributors.

Alamo Drafthouse, founded in 1997, is known for offering seat-side food, drinks, and a strict theater etiquette policy.Despite some recent closures due to bankruptcy in certain Texas locations, it maintains a strong presence across 25 cities in North America. The acquisition by Sony marks a notable shift in the film industry's landscape, enabling studios to distribute and exhibit their films directly.