Sony Pictures buys dine-in movie theater chain Alamo Drafthouse

Alamo Drafthouse, the dine-in movie theater chain that faded during the pandemic before declaring bankruptcy three years ago, has a fresh lease on life after finding a new corporate owner. 

Sony Pictures said Wednesday it has purchased Alamo and will keep its 35 locations open. The theater, whose headquarters will remain in Austin, Texas, will be folded into a new division called Sony Pictures Experiences. As part of the transaction, Sony also acquired Alamo's genre film festival, Fantastic Fest. 

Sony didn't disclose the purchase price or other terms of the deal.