Sony Pictures buys the Alamo Drafthouse Cinema

Sony Pictures buys the Alamo Drafthouse Cinema

Sony Pictures has acquired Alamo Drafthouse Cinema, one of the best cinema chains in existence. I love watching movies at Alamo Drafthouse because it always offers the best movie experience.

Alamo Drafthouse is in trouble as it recently filed for bankruptcy and closed some of its theaters. But Sony stepped in and bought them to keep them going.

Alamo Drafhouse will now be operated by a newly formed division, Sony Pictures Experiences. In a press release, the company said it is “going from strength to strength [Sony Pictures Entertainment’s] long-standing commitment to theatrical practice and continuous experiential entertainment initiatives”.

Alamo Drafthouse’s Michael Kustermann will remain CEO of Alamo Drafthouse and will also lead Sony Pictures Experiences, reporting to Ravi Ahuja, president and COO of Sony Pictures Entertainment.

Ahuja said in a statement. “We firmly believe in engaging out-of-home entertainment enthusiasts in fun and distinctive ways. Alamo Drafthouse’s differentiated moviegoing experience, admired brand and devoted community fit well with this vision.

Alamo Drafthouse founder Tim League said: “We are beyond excited to join forces with Sony Pictures Entertainment to expand our company’s vision to be the best damn movie theater that has ever existed, or will ever exist now, in ways we could only dream of.

“They have a deep respect and understanding of cinema’s ability to spark growth and create lasting cultural impact that aligns perfectly with everything Alamo Drafthouse stands for.”

Tom Rothman, President and CEO of Sony Pictures, added: “Alamo Drafthouse has always held the art of cinema and the theatrical experience in high regard, which are core values ​​shared between our companies. I’m excited that our company is doing this.

Kustermann said in a statement: “We were created by film lovers for film lovers. We know how important this is to Sony and is further proof of their commitment to the cinematic experience. Together we will continue to innovate and offer exciting new opportunities for both our teammates and spectators.”

There are 35 theaters and all will remain open and continue to operate under the Alamo Drafthouse brand. The company’s headquarters will remain in Austin, Texas.

I was actually worried for a moment that Alamo Drafthouse might close, but that’s something movie fans no longer have to worry about.

by Joey Paur
Source: Geek Tyrant

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