Reeling in Cash
KVUE — Among the many businesses struggling amid the coronavirus pandemic is movie theaters. Alamo Drafthouse, a beloved Austin-based movie theater chain, is taking a unique approach to finding funds for staff and other expenses.
Tim League, the co-founder and executive chairman of Alamo Drafthouse, is auctioning off his personal, rare collection of movie posters in order to alleviate the financial burden of COVID-19. He said that 100 percent of the proceeds from the sale will go toward paying Alamo Drafthouse staff and paying debt and expenses that have resulted from the pandemic.
"These next four to six months are critical, and the proceeds from this auction will help immensely," he said in a statement posted on the chain's website.
The auction will be held via eMoviePoster.com starting at 5 pm November 29 through December 13. Drafthouse is auctioning off nearly 2,000 items that include Alamo Drafthouse and Mondo collectibles. Bidding on items starts at $1.
To read the full story, head to KVUE.