Alamo Drafthouse is a destination for moviegoers, but as the theater chain has struggled to stay afloat in this era of streaming, it needed someone to come in and save the day. The would-be savior is Sony Pictures, which has acquired Alamo Drafthouse for an undisclosed amount, first reported by Variety on Wednesday. The theater chain will keep its headquarters in Austin, Texas, but it will be under a new division at Sony Pictures called Sony Pictures Experiences.
While it might not be the most ideal buyer of the popular theater chain, the alternative could have been a private equity firm that would chop up the company’s assets or institute some terrible practices (like no longer throwing out those who talk and text during a movie).
“We are beyond thrilled to join forces with Sony Pictures Entertainment to expand our company vision to be the best damn cinema that has ever, or will ever, exist now in ways we could only ever dream of,” said Tim League, founder of Alamo Drafthouse Cinema, in a press release. “They have a deep respect and understanding of cinema’s ability to both drive growth and create lasting cultural impact which aligns perfectly with everything Alamo Drafthouse stands for.”
Founded in 1997, Alamo Drafthouse has been a haven for cinephiles. Each location has food and drinks service during a film and has a firm “no talk, no text” rule. Along with playing the biggest movies of the year, each location also features special showings of movies from the past.
Alamo Drafthouse and other movie theater chains are having a rough 2024. Last week, five Drafthouse theaters in North Texas were shuttered after the franchise owner of those locations filed for bankruptcy.
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