Sony Pictures is getting into the movie theater business, as it has acquired Alamo Drafthouse and its 35 dine-in cinemas.
As part of the sale, Alamo Drafthouse will continue to operate all of its existing locations as well as the annual Fantastic Fest genre film festival in Austin. Michael Kustermann will remain CEO of the company and will report to Sony Pictures president/COO Ravi Ahuja.
The company will be managed within SPE under a newly established division, Sony Pictures Experiences. The Drafthouse will continue to operate its cinemas the same way it always has, which includes exhibiting non-Sony releases, an individual with knowledge told TheWrap.