It’s the first deal of its kind since the 2020 abolition of the Paramount Consent Decrees that had barred movie studios from buying theater chains.
Sony Pictures Entertainment has acquired Alamo Drafthouse Cinema, the companies said Wednesday. Alamo, which operates 35 dine-in movie theaters across several states, will become part of a new division called Sony Pictures Experiences, which will be led by Alamo CEO Michael Kustermann.
The companies, which did not immediately respond to a request for comment, did not disclose the deal’s financial terms. Alamo Drafthouse is best known for its food and drink service during screenings. The chain is also popular among movie lovers for its specialty screenings and zero-tolerance talking and texting policy.
Wednesday’s news marks the first deal of its kind since the 2020 abolition of the Paramount Consent Decrees, which had stipulated that film distributors could not own entire cinema chains, stemming from a landmark 1948 court case. The decrees were abolished by a federal court in 2020 after being deemed outdated for newer platforms and business models in the contemporary film industry.
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