UPDATE: 'The Interview' Will Play in Select Theaters on Christmas Day

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This post is being updated as news develops.

After a month of leaks, embarrassment, and terrorist threats — not to mention an admonishment from President Obama himself — Sony has reversed course and will release The Interview on Christmas Day in a limited number of theaters.

Variety is reporting that over 300 theaters will carry the movie, including the Alamo Drafthouse, an independent theater chain based in Austin that was among the first to announce the news. (Yahoo Movies spoke to Drafthouse’s CEO Tim League about the road to Sony’s decision and his company’s plans for the last-minute screenings. You can read the interview here.)

Both The Wrap and The Hollywood Reporter arereporting that Sony will also release the film on video on demand systems, but there’s been no official announcement yet about VOD plans.

“We have never given up on releasing The Interview and we’re excited our movie will be in a number of theaters on Christmas day,” Sony Entertainment chair and CEO Michael Lynton said in a statement. “At the same time, we are continuing our efforts to secure more platforms and more theaters so that this movie reaches the largest possible audience. I want to thank our talent on The Interview and our employees, who have worked tirelessly through the many challenges we have all faced over the last month. While we hope this is only the first step of the film’s release, we are proud to make it available to the public and to have stood up to those who attempted to suppress free speech.”

Rogen finally broke his silence on Twitter, celebrating the announcement by writing, “The people have spoken! Freedom has prevailed! Sony didn’t give up! The Interview will be shown at theaters willing to play it on Xmas day!”

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Franco added a beautiful statement on Instagram, writing, “CELEBRATING!!!!! ‘The Interview’ starring Seth Rogen and James Flacco saved by President Obacco! I MEAN PRESIDENT OBAMA!!!!! Sorry!!!” and posting this photo below:

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Sony gave the green light to the theaters after pulling the movie from theaters last Wednesday; that decision came in the wake of North America’s five biggest chains announcing that they would not screen the movie due to threats made by anonymous hackers who promised a “9/11-style” attack on theaters that showed the film.

The hackers have wreaked havoc on Sony, exposing years of personal and business emails and embarrassing the company for over a month. The FBI has formally accused North Korea of being involved in the hacking.

President Obama criticized Sony for pulling the film, as did much of Hollywood, which saw the move as a bow to terrorists and a blow to free speech.

On Tuesday, Obama praised Sony for its about-face.

"The president applauds Sony’s decision to authorize screenings of the film,” his office said in a statement. “As the President made clear, we are a country that believes in free speech, and the right of artistic expression. The decision made by Sony and participating theaters allows people to make their own choices about the film, and we welcome that outcome.”

Sony, for its part, responded to Obama’s original admonishment by saying it “had not caved” to pressure and threats. A lawyer for Sony said earlier this week that the film would eventually be released, but gave no further details.

Drafthouse CEO Tim League issued a statement that expressed sympathy for Sony, but still displayed the resolve he had to get The Interview screened.

“We cannot imagine the pressures that have been affecting Sony, at all levels of the organization they have been under attack,” he said. “Amidst this unwarranted chaos, they have regrouped and listened to the public, the government and the exhibition community and responded with resolve and determination. At 10:45 AM Sony bookers approved screenings at the Alamo Drafthouse Cinema and other arthouse and independent theaters across the country.”

See the trailer for ‘The Interview’ below:

Image credits: AP Photo/Damian Dovarganes, @jamesfrancotv/Instagram