Alamo Drafthouse Cinema purchased by Sony

Austin, Texas-based Alamo Drafthouse Cinema, which operates a theater in Springfield along South Campbell Avenue, has been acquired.

Sony Pictures Entertainment, a subsidiary of Tokyo-based Sony Group Corp., announced the purchase of Alamo Drafthouse Cinema in a news release yesterday. The financial terms of the deal were not disclosed.

Alamo Drafthouse Cinema will continue to operate its 35 theaters, including the Springfield location, under the Alamo brand. A newly established division within Sony Pictures Entertainment, called Sony Pictures Experiences, will manage Alamo Drafthouse Cinema and be led by Alamo CEO Michael Kustermann.

"We were created by film lovers for film lovers. We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience," Kustermann said in the release. "Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.”

Alamo Drafthouse Cinema was purchased by Sony Pictures Entertainment from Altamont Capital Partners, Fortress Investment Group and founder Tim League, according to the release. Goldman Sachs & Co. LLC served as Alamo's exclusive financial adviser in the deal.

Alamo Drafthouse Springfield, located at 4005 South Ave., opened at the former Campbell 16 Cine in 2017. The Texas-based company filed for Chapter 11 bankruptcy amid the COVID-19 pandemic, when the Springfield theater was closed intermittently due to health concerns, according to past reporting.