Sony Pictures acquires Alamo Drafthouse

Sony Pictures Entertainment is venturing into the exhibition business. The studio, known for recent films like “Bad Boys: Ride or Die” and “The Garfield Movie,” has acquired the Alamo Drafthouse Cinema, a renowned theater chain. The acquisition, announced on Wednesday, also includes the genre film festival Fantastic Fest. Sony has assured that the theaters will continue to showcase content from all studios and distributors. Previously, Hollywood studios were prohibited from owning movie theaters, but this changed in 2020 with the termination of the Paramount Consent Decrees. For Sony, the acquisition of Drafthouse is part of its experiences initiatives.