It has not happened in 75 years, a major motion picture studio will own a chain of movie theaters. Sony, per a press release sent out today, is set to acquire the Alamo Drafthouse Cinemas chain of theaters. The company will be managed within SPE under a newly established division, Sony Pictures Experiences.
Alamo Drafthouse’s Michael Kustermann will remain CEO of the pioneering dine-in movie theater chain and head Sony Pictures Experiences, reporting to Ravi Ahuja, President and COO of SPE. Alamo Drafthouse will continue to operate all 35 of its cinemas across 25 metro areas under the Alamo Drafthouse brand. Alamo Drafthouse-owned Fantastic Fest, the world-renowned genre film festival, is included in the acquisition and will also continue to be operated by Alamo Drafthouse. The company’s headquarters will remain in Austin, Texas.
Sony’s acquisition is the first since the 2020 termination of the Paramount Consent Decrees by the Department Of Justice. The decrees, resulting from a 1948 Supreme Court decision, forced movie companies to sell the theaters they owned to spur competition and create consumer choice. It appears from all the language in press release and Sony execs that Alamo Drafthouse will operate with a business as usual mentality.
