Here’s a major news story that will make you exclaim: “whoa!!” Variety & THR are both reporting that Sony Pictures has officially confirmed and finalized a deal to buy the famous Alamo Drafthouse cinema chain. Aside from Netflix investing in the Paris Theater in NYC & Egyptian Theatre in LA, this is the first time a major Hollywood studio has owned a movie theater company in decades. This is also major in cinema history because for decades there was something called the Paramount Decree, a Supreme Court ruling from 1948 that no movie studios could actually own movie theaters. This decision was historically rescinded in 2020, and everyone has been waiting to see if Hollywood might finally get back to buying up some theater chains. Hollywood is evolving again. There are currently 35 Alamo Drafthouse locations around the United States, including in New York City and Colorado and Los Angeles and San Francisco. They’re one of the best cinema chains in the country – but this news is still completely shocking to almost everyone in the industry. // Continue Reading ›
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