Sony Pictures Entertainment has acquired the popular movie theater chain Alamo Drafthouse Cinema, the two companies announced on Wednesday.
Alamo’s Fantastic Fest film festival will still be operated by the company.
Sony’s acquisition is particularly notable given that it’s happening after the 2020 termination of the Paramount Consent Decrees.
The decrees, resulting from a 1948 Supreme Court decision, forced movie companies to sell the theaters they owned to spur competition and create consumer choice.
With so many ways for viewers to see films nowadays, the decree was reversed by the Department of Justice.
Since then, Sony isn’t the only movie distributor that has purchased theaters; Netflix has cinemas in New York and Los Angeles.
The original article contains 204 words, the summary contains 114 words. Saved 44%. I'm a bot and I'm open source!