Sony Returns To Exhibition Business, Acquires Alamo Drafthouse Cinema Circuit
deadline.comSony Pictures Entertainment (SPE) has just bought Alamo Drafthouse Cinema. Deadline first told you the chain was up for sale and being shopped around to studios.
The move puts Sony, which still has its eye on acquiring Paramount Global, in the exhibition business once again after owning the Loews Theater chain back in the 1990s (you might remember the jingle sizzle reel before each movie “Thank you for coming to Sony”).
Those Loews locations are now owned by AMC Entertainment. SPE acquired Alamo Drafthouse from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.
The new Alamo Drafthouse Cinema will be managed within SPE under a new division, Sony Pictures Experiences. Alamo Drafthouse’s Michael Kustermann will remain CEO of the cineaste dine-in movie chain and head Sony Pictures Experiences, reporting to Ravi Ahuja, President and COO of SPE.
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