Sony Pictures Entertainment has recently acquired Alamo Drafthouse Cinema, a popular theater chain, as part of their new Sony Pictures Experiences division. The deal includes Alamo CEO Michael Kustermann staying on board, with all theaters continuing to operate as usual. The acquisition also includes the renowned film festival, Fantastic Fest. This move comes after a 2020 court ruling allowed movie studios to own theater chains again for the first time since 1948. Sony's purchase of Alamo Drafthouse, known for its unique offerings like seat-side food and drink service, marks a significant shift in the industry. However, some challenges have arisen, such as several Texas locations closing due to bankruptcy. It remains to be seen how this acquisition will impact the future of both companies.