New York Times Company in exclusive talks to buy Letterboxd
The New York Times Company is reportedly in advanced exclusive talks to acquire the film social platform Letterboxd for a price reported between $330 million and $350 million, though no deal has been confirmed.
The New York Times Company is in exclusive talks to acquire Letterboxd, the movie-focused social platform that film fans use to log, rate and review the films they watch, according to reporting from Deadline. The reported price is around $350 million, although the figure differs across outlets, with some citing roughly $330 million. Neither the final value nor the terms have been officially confirmed.
Deadline reports that the talks are advanced but not finalized, and that no agreement has been signed or closed. The report says A24, the independent film studio that had been considered a possible bidder, is no longer in the running. Sources do not make clear whether that exit is definitive. The original reporting on the talks came from The New York Times itself, and Deadline said it had independently confirmed that the New York Times Company is in exclusive negotiations.
Letterboxd has become a sought-after acquisition target in recent months, drawing interest from companies that want to own a platform with a large and highly engaged base of movie enthusiasts. The reported seller is Canadian hedge fund Tiny. Before any sale, Letterboxd was described as independently owned, which means a transaction with a major news and media company would mark a clear change in its ownership structure.
The New York Times Company is the parent of The New York Times, one of the largest subscription-based news organizations in the United States. A deal would place a film-focused community platform under its corporate umbrella and extend the company's reach beyond news into consumer entertainment and culture. Letterboxd's core audience is cinephiles who already spend time on the platform discussing, cataloguing and recommending movies, a user base that a company built around digital subscriptions and reader engagement would find appealing. Those points about strategic fit are interpretation rather than detail drawn from the reporting.
Several details remain unsettled. The final price, the deal terms and whether the transaction will require regulatory approval are not known from the available reporting. Because the figures differ between outlets, readers should treat the $350 million number as the headline estimate rather than a confirmed valuation. Until the companies make a formal announcement, the status of the talks remains advanced but unconfirmed, and the exit of A24 from the bidding is reported without a definitive statement from that studio.
Source: deadline.com
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