Sony Pictures buys dine-in movie theater chain Alamo Drafthouse

Sony Pictures Entertainment has purchased Alamo Drafthouse Cinema, the innovative dine-in movie theater chain known as a prime cinephile destination, including at its location in downtown Los Angeles. The Culver City-based studio said Wednesday that the quirky, Austin, Texas-based exhibition company will be housed under its newly established Sony Pictures Experiences division, helmed by Alamo Drafthouse's Michael Kustermann.

During the Trump administration, however, the Justice Department sunset the decrees, determining them to be out of date. Today, entertainment companies control production, distribution and exhibition in a different sense: Most of the major studios’ parent companies own streaming services. Sony is the only top studio without a mass-market streamer to compete with Netflix, though it offers some niche direct-to-consumer services, including anime outlet Crunchyroll.

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