Michael Kustermann News Today

New York (CNN) — Sony Pictures Entertainment has bought dine-in movie theater chain Alamo Drafthouse, the companies announced Wednesday.

Sony's acquisition spree continues, as the giant makes a move unheard of since the Paramount Decree of the 1948.

Sony Pictures Entertainment has acquired Austin-based movie chain Alamo Drafthouse Cinema, according to a news release Wednesday.

Sony Pictures announced Wednesday it will acquire Alamo Drafthouse Cinema for an undisclosed amount, making it the first studio in 75 years to own a movie theater chain.

For decades, the Department of Justice blocked film studios from owning their own movie theaters. Not anymore

Sony announced it has purchased the Alamo Drafthouse cinema chain. Sony will oversee the theater experience under its new division.

The news comes shortly after all five Alamo Drafthouse Cinema locations in North Texas closed as their local franchise partner filed for Chapter 7 bankruptcy.

For more than seven decades, studios weren't allowed to own an exhibition company under the Paramount Consent Decrees, which were rescinded in 2020.

Alamo filed for bankruptcy three years ago and was sold to investors following pandemic-induced financial struggles.

Sony Pictures Entertainment has bought dine-in movie theater chain Alamo Drafthouse, the companies announced Wednesday.