Sony Pictures acquires Alamo Drafthouse Cinema, the dine-in movie theater chain

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FILE - Alamo Drafthouse Cinema is pictured on Wednesday, Oct. 11, 2023, in New York. has acquired the distinctive theater chain Alamo Drafthouse Cinema, the companies said Wednesday. Included in the deal is the genre film festival Fantastic Fest.were terminated. Netflix owns several theaters in New York and Los Angeles, and the Walt Disney Co. owns and operates the El Capitan in Los Angeles.

Alamo Drafthouse was founded in 1997 as a single screen, family-owned repertory theater in Austin, Texas and has grown to 35 locations in North America. It distinguished itself in the exhibition landscape with drinks, dine-in food service and a cool vibe that became a favorite of cinephiles. “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,” Alamo Drafthouse founder Tim League said in a statement. “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.

For Sony, the Drafthouse acquisition is also tied into its experiences initiatives, including its Wheel of Fortune Live! Traveling tour and the Wonderverse space in Chicago. Ravi Ahuja, the president and chief operating officer of Sony Pictures Entertainment also noted that the studio’s Crunchyroll films are particularly aligned with the interests of Drafthouse fans.closed some locations and canceled plans to open new ones.

Source: News Formal (newsformal.com)

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