Austin’s CineMagic7 has a new owner, and that owner has big plans.

The movie theater was bought by Odyssey Entertainment, LLC after its previous owner, Midwest Theatres Corp., filed for Chapter 7 bankruptcy on May 24. Bryan Sieve, vice president of finance at Odyssey, said while CineMagic7 will operate under the same name and retain all of its employees, the new owner will upgrade the theaters from analog projection to digital and 3D digital projection.

“We will continue as usual, and customers will enjoy the improvements that come with it,” Sieve said.

Sieve said the upgrade will cost about $75,000 for each of the seven screens. He said there are other plans for improvement at the theater, but he isn’t releasing that information yet.

Odyssey also bought the Hollywood 12 theater in Rochester.