Technology peripheralsIt IndustrySony acquires U.S. theater chain Alamo Cinemas and will retain its unique movie-watching and dining experienceSony acquires U.S. theater chain Alamo Cinemas and will retain its unique movie-watching and dining experience
According to news from this site on June 13, according to news released by both parties on Wednesday, Sony Pictures Entertainment has acquired Alamo Drafthouse Cinema, an American chain of theaters that is popular with American audiences.
In the press release, Sony said it will manage the theaters through the newly formed Sony Pictures Experiences division (Sony Pictures Experiences), while "will retain A unique moviegoing and dining experience at Alamo Studios.” Alamo Studios will continue to operate all 35 of its theaters in 25 metro areas under the Alamo Studios brand, and current CEO Michael Kustermann will remain in place. Additionally, Fantastic Fest at Alamo Studios will continue to be run by the company.
Altamont Capital Partners, Fortress Investment Group and founder Tim League acquired Alamo Studios in 2021. The consortium took ownership after the Alamo Studios title was secured.
Sony’s acquisition is particularly notable because of the 2020 repeal of the “Paramount Decision,” a 1948 Supreme Court ruling that promoted competition and consumer choice. Courts at the time forced studios to sell theaters they owned. However, as audiences now watch movies in increasingly diverse ways, this decision was rescinded by the U.S. Department of Justice.
This site noticed that The streaming giant Netflix also has its own cinemas in New York and Los Angeles.
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