Texas cinema chain Alamo Drafthouse acquired by Sony Pictures

Word of the buyout, which includes two San Antonio cinemas, comes a week after several North Texas locations unexpectedly closed.

Courtesy Photo / Alamo Drafthouse

The Alamo Drafthouse chain will remain headquartered in Austin after the purchase closes.

Sony Pictures Entertainment has purchased Austin-based upmarket movie chain Alamo Drafthouse for an undisclosed amount, according to media reports.

Word of the sale comes a week after five Alamo Drafthouse franchise locations closed in North Texas and four months after Hollywood news site Deadline reported that the cinema chain could be looking for a buyer.

Under the agreement, the 35 remaining Alamo Drafthouse locations, including the two located in San Antonio, will be managed by Sony Pictures Experiences head Ravi Ahuja, with current Alamo Drafthouse CEO Michael Kustermann working under him, MySA reports.

Although Sony's U.S. division is based in New York, Alamo Drafthouse will retain its corporate headquarters in Austin.

"Alamo Drafthouse's differentiated movie-going experience, admired brand and devoted community fit well with this vision," Ahuja said in a statement. "Our Crunchyroll business also aligns well with their audience's interests. We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors."

Sony's acquisition marks the first time in more than 75 years that a major Hollywood studio will own a movie theatre chain, according to CNBC.

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Michael Karlis is a Staff Writer at the San Antonio Current. He is a graduate of American University in Washington, D.C., whose work has been featured in Salon, Alternet, Creative Loafing Tampa Bay, Orlando Weekly, NewsBreak, 420 Magazine and Mexico Travel Today. He reports primarily on breaking news, politics...

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Texas cinema chain Alamo Drafthouse acquired by Sony Pictures | San Antonio