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Sony Pictures Acquires Alamo Drafthouse in Lifeline to Cinema Chain

Posted on AllSides June 12th, 2024
From The Left

Sony Pictures Entertainment is acquiring Alamo Drafthouse Cinema and will manage the theater chain’s 35 cinemas, marking the first time in more than half a century that a traditional Hollywood studio has gotten into the theater business. The deal, announced Wednesday, was made possible by the Justice Department’s decision in 2020 to rescind the so-called Paramount consent decrees — movie distribution rules dating to 1949 that forced the largest Hollywood studios to sell off their theater holdings. Those rules were intended to prevent studios from controlling the film business, from...

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https://nytimes.com/2024/06/12/business/alamo-drafthouse-sony-pictures.html

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