This is the first time in more than 75 years that a major Hollywood studio will own a movie theater chain.
From 1948 until 2020, film distributors were prohibited from owning an exhibition company under what was known as the Paramount Consent Decrees. While studios were permitted to own individual theater locations — Disney owns the El Capitan Theatre and Netflix owns The Egyptian Theatre and New York's Paris Theater, for example — the Department of Justice disallowed ownership of a chain of cinemas.
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. "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," Ahuja said in a statement.
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