Major News! Sony Pictures Buys the Alamo Drafthouse Cinema Chain
by Alex Billington
June 12, 2024
Source: Variety
Here’s a major news story that will make you exclaim: “whoa!!” Variety & THR are both reporting that Sony Pictures has officially confirmed and finalized a deal to buy the famous Alamo Drafthouse cinema chain. Aside from Netflix investing in the Paris Theater in NYC & Egyptian Theatre in LA, this is the first time a major Hollywood studio has owned a movie theater company in decades. This is also major in cinema history because for decades there was something called the Paramount Decree, a Supreme Court ruling from 1948 that no movie studios could actually own movie theaters. This decision was historically rescinded in 2020, and everyone has been waiting to see if Hollywood might finally get back to buying up some theater chains. Hollywood is evolving again. There are currently 35 Alamo Drafthouse locations around the United States, including in New York City and Colorado and Los Angeles and San Francisco. They’re one of the best cinema chains in the country – but this news is still completely shocking to almost everyone in the industry.
The news is official and not just a rumor, it’s all announced with a press release. Here’s the main quote from Alamo’s CEO Michael Kustermann: “We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema… We were created by film lovers for film lovers. We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience. Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.” Tom Rothman, chairman and CEO of Sony Pictures Motion Picture Group, also adds: “Alamo Drafthouse has always held the craft of filmmaking and the theatrical experience in high esteem, which are fundamental shared values between our companies. I’m jazzed that our company is doing this.” Still not sure what all of this means and how they’ll manage this chain within the Sony brand.
The Alamo Drafthouse was originally founded and created by Tim & Karrie League as a one-screen cinema located in Austin, Texas. They expanded to more theaters within the Austin area before creating a franchise and building theaters in other Texas cities; they also host Fantastic Fest every year. Now they’ve expanded nationwide and have cinemas in most of the states, with more plans in the works. Especially now with Sony helping bankroll any other plans they might have. Drafthouse is also known for its policies and atmosphere. The pre-screening experience is fun with old clips instead of ads; they serve custom-made food and alcoholic drinks; and best of all they have a no talking, no texting rule, and they will kick people out. They also really care about the theatrical experience and believe in the cinema as a sacred space. I hope all of this continues under Sony’s shadow! They better not start cutting back on these rules or being more lax just because they think it might bring in more patrons. Alamo Drafthouse is a model for how great cinemas should run. We’ll have to wait to see what happens next now that the sale has been announced. What do you think about this?
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