Alamo Drafthouse, one of the only corporate chains in America that is actually cool, is up for sale. Deadline reports that the cinema circuit, which was founded by entrepreneur Tim League in Austin, Texas, in 1997, is looking for a buyer, although it’s not clear what the asking price is. Let us pray that private equity vultures stay the hell away from it.
The chain, which is hugely popular among cinephiles and is known for its special guest appearances, as well as for serving food and drinks to customers, has had some ups and downs over the past two decades but has remained a remarkably strong brand in an industry that is dominated by the likes of Regal and Cinemark. The chain filed for bankruptcy in March of 2021, at the height of the pandemic, when movie-going numbers were plummeting. That downturn did not last long, however. The company rallied, emerging from bankruptcy and added five new locations to its roster.
Deadline reports that, over the past two years, Alamo Drafthouse’s box office numbers have seen a better increase than the industry average. All told, the chain brought in $134 million at the box office last year. The news that the business is looking for a buyer comes only about a week before CinemaCon, a large cinema conference in Las Vegas.
Gizmodo reached out to Alamo Drafthouse for more information and will update this story when it responds.
All I can say is that I hope that this beloved entertainment industry fixture isn’t bought by some craven corporate raider type that hollows it out and ruins the magic for everybody. Similarly, Alamo Drafthouse has a responsibility to choose a buyer that will keep its fans happy. The few times I’ve managed to make it to an Alamo Drafthouse showing over the past few years I’ve always had a great time. I hope that remains the case for the foreseeable future.
