after rumors swirled In March, favorite theater chain Alamo Drafthouse was looking for a potential buyer, with a Hollywood studio reportedly inking the deal in a blockbuster acquisition.

Sony Pictures Entertainment announced on Wednesday that it had earned the dinner theater chain what it is is estimated to be a $200 million deal.

As part of the new deal, Alamo Drafthouse Cinema will live under the Sony Pictures Experiences division. Current Alamo Drafthouse CEO Michael Kustermann will remain in his position and will also become head of Sony Pictures Experiences. He will report to Sony Pictures Entertainment President and COO Ravi Ahuja.

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Alamo currently operates 35 theaters in 25 different metro areas. None are set to close amid the merger, the company said. The company's headquarters will also remain in Austin, Texas.

The movie theater chain is characteristically known as one of the first chains to offer moviegoers an in-theater dining experience that includes local draft beers and a curated food menu.

“We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,” Kustermann said in a statement. company release. “We were created by movie fans for movie fans. We know how important this is to Sony and it serves as further evidence of their commitment to the theatrical experience. Together we will continue to innovate and bring opportunities exciting news for our teammates and moviegoers alike.”

Alamo is the #7 largest movie theater chain in North America and originally submitted for Chapter 11 bankruptcy protection in March 2021 amid pandemic. The company was sold just months later in June to Altamont Capital Partners and emerged from bankruptcy.

Alamo Drafthouse bring in $134 million at the box office in 2023, up 30% from the same time last year.

The acquisition of Alamo is not Sony Pictures Entertainment's first foray into the movie industry.

In 1989, Sony purchased the iconic Lowes Theater chain before turning it around Name to Sony Theaters in 1994. In 1996, the name reverted to Lowes.

The following year, Lowes merged with Cineplex Odeon Corporation, which merged with Sony and Universal to become Loews Cineplex Entertainment.

Loews Cineplex Entertainment was acquired by Onex Corporation and Oaktree Capital Management in 2002 and sold in 2004. Eventually, the company was bought in 2005 to merge with AMC Theaters, which is the name the joint venture still bears today.

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“Alamo Drafthouse has always held the craftsmanship of filmmaking and the theatrical experience in high esteem, which are core values ​​shared between our companies. I am thrilled that our company is doing this,” said Tom Rothman, chairman and CEO. of Sony Pictures Motion. Picture Group about Wednesday's announcement.

Sony maintained that it will continue to allow films and content from all distributors and studios into its theaters, not just its own.