Reported about 1 year ago
Sony Pictures Entertainment has acquired Alamo Drafthouse Cinema, a dine-in movie theater chain known for its unique offerings like drinks, dine-in food service, and genre film festival Fantastic Fest. The acquisition aligns with Sony's experiences initiatives and their respect for cinema. Alamo Drafthouse, with 35 locations in North America, had faced challenges in the past including bankruptcy but emerged under new ownership. The theater chain will now operate as part of Sony Pictures Experiences division, with the CEO remaining in place. This acquisition marks Sony's entry into the exhibition business amid changing dynamics in the film industry with Netflix and Disney also owning theaters.
Source: YAHOO