Sony Pictures Entertainment (SPE) announced on Wednesday that it has acquired the Alamo Drafthouse Cinema chain, as well as the chain’s Fantastic Fest film festival, putting them under a new division under Sony Pictures Entertainment named Sony Pictures Experience.
Alamo Drafthouse Cinema is the seventh-largest theater chain in North America in terms of box office revenue.
In March 2021, Alamo Drafthouse Cinema filed for Chapter 11 bankruptcy, but emerged from bankruptcy later that year in June.
Michael Kustermann will remain CEO of Alamo Drafthouse, which will continue to operate all of its 35 locations, as well as the Fantastic Fest film festival.