Roundtable Discussion:
Jon Partridge,
Richard Whittaker,
Alejandra Martinez,
Austin Film Critics Association,
Alamo Drafthouse Cinema Sale
What becomes of a beloved Austin institution when it is purchased by one of Hollywood’s major entertainment conglomerate? This is a question that reminds very much on the minds of industry insiders, media analysts, and loyal patrons since Sony Pictures Entertainment announced on June 12 its purchase of the Alamo Drafthouse Cinema, the Austin-based independent dine-in theater chain of 35 locations founded in 1997 by Tim and Kerrie League. The Alamo Drafthouse Cinema, which slowly outgrew its maverick reputation as it began expanding across the country in 2009, emerged from its pandemic-induced bankruptcy following its sale to an investor group led by Tim League, Altamont Capital Partners, and Fortress Investment Group. Now, months after rumors began to swirl it was up for sale, the Alamo Drafthouse Cinema—along with its influential genre film festival, Fantastic Fest—is now part of the newly established division Sony Pictures Experiences. In its June 12 press release, Sony Pictures Entertainment stated that “the deal reinforces SPE’s long-held commitment to theatrical exhibition and continued initiatives in experiential entertainment,” while also announcing that Alamo Drafthouse Cinema’s headquarters will remain in Austin. And Sony Pictures Entertainment’s spending spree continued in late June with the purchase of six Alamo Drafthouse locations in the Dallas-Fort Worth area and Minnesota that closed on June 6 following a franchisee declaring bankruptcy. While Sony owned the Loews Theatres chain in the 1990s, the Alamo Drafthouse Cinema represents the first purchase of a theater chain since the U.S. Department of Justice’s termination of the Paramount Decree, a 1948 U.S. Supreme Court antitrust case that barred film studios from owning movie theaters. Whether Sony’s purchase of the Alamo Drafthouse Cinema prompts more films studio to expand into theatrical exhibition remains to be seen. Austin Film Critics Association president Jon Partridge, vice president Richard Whittaker, and member Alejandra Martinez joined Lights Camera Austin in late June to record a roundtable discussion on the Sony Pictures Entertainment purchase of the Alamo Drafthouse Cinema chain. Jon Partridge is the Chief Theatrical Critic for Cinapse; Richard Whittaker is the Austin Chronicle Senior Staff Writer & Critic/Culture Desk Editor; and Alejandra Martinez, a freelance film critic for the Austin Chronicle and Latina Media Co., was voted the Best Film Critic in the 2024 Austin Chronicle Best of Austin Readers Poll. Aired: July 3, 2024. Web sites: https://www.facebook.com/AustinFilmCritics/ https://cinapse.co/author/jonp/ https://www.austinchronicle.com/authors/richard-whittaker/ https://www.austinchronicle.com/authors/alejandra-martinez/ https://latinamedia.co/author/alejandramartinez/ https://drafthouse.com/austin |
|