BREAKING: Sony Pictures Acquires Alamo Drafthouse

For the first time in 75 years, a major Hollywood studio is back in the business of owning a movie theater chain. (The only thing that came close was Netflix purchasing the iconic Egyptian Theater.)

Sony Pictures has reportedly finalized a very quiet deal to acquire the Alamo Drafthouse Cinemas chain. Alamo CEO Michael Kustermann will continue to run the chain, under a new division called Sony Pictures Experiences, that he’ll also oversee.

“We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,” Kustermann said in a statement. “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.”

Per today’s news, all 35 locations across the country will remain open. We assume this includes the Texas locations that suddenly closed over the weekend with no warning to staff. Alamo Drafthouse headquarters will reportedly remain in Austin, TX.

Sony Pictures was most recently in talks to possibly acquire another big studio- Paramount Pictures. One of the reported plans for that (which may or may not have been fear-mongering) was the sale and destruction of the historic Paramount Lot in Los Angeles. The purchase of Alamo may be part of why those talks stalled.

“Alamo Drafthouse has always held the craft of filmmaking and the theatrical experience in high esteem, which are fundamental shared values between our companies,” Tom Rothman, Chairman and CEO of Sony Pictures Motion Picture Group, said. “I’m jazzed that our company is doing this.”

Us too, Tom. Us too.