Sony buys Alamo Drafthouse chain

(CNN)– Sony Pictures has brought a dine-in movie theater chain called Alamo Drafthouse.

It’s got 35 theaters in 25 metro areas and has a passionate fan base.

The deal is notable because most Hollywood studios have been jumping into streaming.

But Sony is remaining committed to the theater experience.

Alamo Drafthouse declared bankruptcy in 2021 during the COVID-19 pandemic.

Business has rebounded since then with box office revenue growing by 30% the following year.

Sony formed a new division called Sony Pictures experiences to manage the theaters.