Alamo Drafthouse Cinema Chain Sold to Sony Pictures Entertainment

Under new management: today Sony Pictures Entertainment announced it is buying the Austin-based Alamo Drafthouse cinema chain. It will become a key component of the company's new Sony Pictures Experiences division, but Sony pledged that it will remain based in Austin.

League cofounded the Alamo with his wife, Karrie, in 1997 as a single-screen repertory theatre in downtown Austin, and has been involved throughout its growth into the seventh biggest theatre chain in the U.S. Currently serving as executive chairman, League will remain an advisor to the Alamo - just one of many signs of continuity from the new management.

In the announcement, SPE pledged to keep the Drafthouse's mix of movie watching, movie appreciation, and in-theatre dining. Ravi Ahuja, SPE President and COO, also made it clear that the Drafthouse will not become Sony-exclusive, adding that it"will, of course, continue to welcome content from all studios and distributors.”

Tom Rothman, chairman and CEO of Sony Pictures Motion Picture Group, said, “Alamo Drafthouse has always held the craft of filmmaking and the theatrical experience in high esteem, which are fundamental shared values between our companies. I’m jazzed that our company is doing this.”, with League as a minority shareholder.

Source: Entertainment Trends (entertainmenttrends.net)

Sony Pictures Entertainment Sony Pictures Experiences SPE Tim League

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