Sony Pictures Buys Alamo Drafthouse
variety.comBrent Lang Executive Editor Sony Pictures Entertainment has acquired Alamo Drafthouse Cinema, the theater chain that inspired a passionate following with its creative cocktails, extensive food menu and strict “no talking, no texting” policies.
The media company acquired Alamo Drafthouse from owners Altamont Capital Partners, Fortress Investment Group and its founder Tim League.
Under its new ownership, Alamo Drafthouse will be managed under a newly established division, Sony Pictures Experiences. In a press release touting the sale, the company said it “reinforces [Sony Pictures Entertainment’s] long-held commitment to theatrical exhibition and continued initiatives in experiential entertainment.” Alamo has been quietly soliciting offers for the past several months, but had struggled to find a buyer.
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 Sony Pictures Entertainment.
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