Sony Pictures Entertainment is getting into the exhibition business.
The studio behind recent films like “Bad Boys: Ride or Die” and “The Garfield Movie” has acquired the distinctive theater chain Alamo Drafthouse Cinema, the companies said Wednesday. Included in the deal is the genre film festival Fantastic Fest.
For many years, Hollywood studios were banned from owning movie theaters, but that changed in 2020 when the Paramount Consent Decrees were terminated. Netflix owns several theaters in New York and Los Angeles, and the Walt Disney Co. owns and operates the El Capitan in Los Angeles. “We are beyond thrilled to join forces with Sony Pictures Entertainment to expand our company vision to be the best damn cinema that has ever, or will ever, exist now in ways we could only ever dream of,” Alamo Drafthouse founder Tim League said in a statement. “They have a deep respect and understanding of cinema’s ability to both drive growth and create lasting cultural impact which aligns perfectly with everything Alamo Drafthouse stands for.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sony Profit Outlook Misses Estimates as PS5 Appeal Wanes(Bloomberg) -- Sony Group Corp. said it expects operating income of ¥1.28 trillion ($8.2 billion) in the year to March, missing analyst expectations for both...
Read more »
Sony posts 7% fall in annual profit, narrowly misses PS5 targetTOKYO (Reuters) -Japan's Sony Group reported a 7% fall in annual operating profit on Tuesday, hit by the performance of its financial business. Profit for...
Read more »
Sony Promotes Two Executives to Lead Its Video-Game BusinessSony Group Corp. promoted two executives, Hermen Hulst and Hideaki Nishino, to lead its video-game business, succeeding longtime head Jim Ryan, who retired two months ago.
Read more »
Sony restructures leadership of key games businessExplore stories from Atlantic Canada.
Read more »
Sony shares leap 12% on buyback and dividend plans, higher profit outlookShares in Sony Group jumped 12% in early Tokyo trading on Wednesday after the company pledged to boost shareholder returns and forecast higher annual profit ...
Read more »
Sony shares leap 12% on buyback and dividend plans, higher profit outlookExplore stories from Atlantic Canada.
Read more »