Sony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday. Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division. The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas. The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions. "We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema," said Kustermann.

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Persons: Walter Reade, Michael Kustermann, Ravi Ahuja, Alamo Drafthouse, Ahuja, Tim League Organizations: Sony Pictures, Alamo, Department, Paramount, Warner Bros, Century Fox, MGM, Universal, United Artists, Columbia Pictures, Sony, Walter Reade Organization, Lowes, Disney, El Capitan Theatre, Netflix, Egyptian, New York's, Altamont Capital Partners, Fortress Investment Group, Sony Pictures Entertainment Locations: North America, Columbia, New York's Paris, Austin , Texas, Texas