In a shocking announcement on Wednesday, Sony Footage Leisure has acquired Alamo Drafthouse Cinema, the theater chain identified for its dine-in choices and strict no-phone insurance policies, the corporate introduced.
The theater chain will likely be managed by a brand new division inside SPE, Sony Footage Expertise, and also will have Unbelievable Fest, the style movie competition owned and operated by Alamo, included within the acquisition.
Alamo Drafthouse’s present CEO Michael Kustermann will stay with the corporate within the acquisition, and Tim League, the founding father of the cinema chain, may also stay, to assist “broaden our firm imaginative and prescient to be the very best rattling cinema that has ever, or will ever, exist,” based on League.
What does it imply for Sony Footage’ Alamo Drafthouse Cinema?
In a press release on the transfer, Sony Footage Leisure says this “reinforces” their “long-held dedication to theatrical exhibition.” In addition they assured followers that content material from “all studios and distributors” could be welcome within the theaters.
“We consider strongly in participating leisure followers exterior the house in enjoyable and distinctive methods as seen most lately with our Wheel of Fortune LIVE! touring tour, and the opening of Wonderverse in Chicago,” stated Ravi Ahuja, President and COO of SPE. “Alamo Drafthouse’s differentiated movie-going expertise, admired model and devoted group match effectively with this imaginative and prescient…We sit up for constructing upon the improvements which have made Alamo Drafthouse profitable and can, after all, proceed to welcome content material from all studios and distributors.”
The transfer itself is a little bit of a shock, as this is likely one of the first occasions in almost 80 years {that a} film studio has bought and owned a theater chain. Previous to 2020, this act was unlawful because of a 1948 anti-trust Supreme Courtroom resolution that may come to be often known as the Paramount Decree.
So far as any modifications go, it’s unknown precisely what, if any, will likely be completed. Stories of Alamo searching for consumers had been surfacing for a while now, and at the very least for now, it doesn’t look like a lot ought to change going ahead with the corporate.
