From KERA News:
Sony Pictures Entertainment has bought Alamo Drafthouse Cinemas a week after six theaters — including five in North Texas — closed due to bankruptcy.
The acquisition, announced on Wednesday, means Alamo Drafthouse will be managed by Sony Pictures but its headquarters will remain in Austin, where the the dine-in movie theater was founded by husband and wife duo Tim and Karrie League in 1997.
“We are beyond thrilled to join forces with Sony Pictures Entertainment to expand our company vision to be the best damn cinema that has ever, or will ever, exist now in ways we could only ever dream of,” Tim League said in a statement. “They have a deep respect and understanding of cinema’s ability to both drive growth and create lasting cultural impact which aligns perfectly with everything Alamo Drafthouse stands for.”
Representatives said they wish to preserve Alamo Drafthouse’s movie dining experience and won’t add Sony to the brand name.
Despite the closure of some Alamo Drafthouse locations last week, the cinema company continues to operate 35 of its theaters across 25 metro areas. No Worker Adjustment and Retraining Notification, or WARN, notices have been filed, meaning there likely won’t be mass layoffs.
As of Wednesday afternoon, it is unclear what the acquisition means for the shuttered North Texas locations. However an Alamo Drafthouse spokesperson previously told KERA in a statement that they were working to get the locations back up and running.
“We are heartbroken for the franchisee’s teammates and the local film communities, however, we are working as quickly as possible to get Alamo Drafthouse Cinema back up and running in these cities,” the spokesperson said. “All other Alamo Drafthouse locations are operating as normal, with continued expansion plans across the country.”
Additional information from Katy McAfee at KUT News.
