Courtesy Picture / Alamo Drafthouse
The Alamo Drafthouse chain will stay headquartered in Austin after the acquisition closes.
Sony Footage Leisure has bought Austin-based upmarket film chain Alamo Drafthouse for an undisclosed quantity, in line with media studies.
Phrase of the sale comes per week after 5 Alamo Drafthouse franchise areas closed in North Texas and 4 months after Hollywood information website Deadline reported that the cinema chain may very well be in search of a purchaser.
Below the settlement, the 35 remaining Alamo Drafthouse areas, together with the 2 positioned in San Antonio, can be managed by Sony Footage Experiences head Ravi Ahuja, with present Alamo Drafthouse CEO Michael Kustermann working beneath him, MySA studies.
Though Sony’s U.S. division relies in New York, Alamo Drafthouse will retain its company headquarters in Austin.
“Alamo Drafthouse’s differentiated movie-going expertise, admired model and devoted group match nicely with this imaginative and prescient,” Ahuja mentioned in a press release. “Our Crunchyroll enterprise additionally aligns nicely with their viewers’s pursuits. 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.”
Sony’s acquisition marks the primary time in additional than 75 years {that a} main Hollywood studio will personal a film theatre chain, in line with CNBC.
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