Rumors have been swirling about the film lover’s social network for a while, but the NYT reports it’s the buyer.
Rumors have been swirling about the film lover’s social network for a while, but the NYT reports it’s the buyer.
The New York Times Company is in talks”exclusive negotations” to acquire Letterboxd, the social network for film lovers, for around $330 million, The New York Times reports . The Times Company, Sony Pictures Entertainment, and A24 were all recently rumored to be among those interested in buying Letterboxd.
The negotiations with the Times Company have included the potential for Letterboxd’s co-founders to stay in charge but report to a Times Company executive. Letterboxd would likely remain standalone for the “foreseeable future,” according to the NYT . The company would also integrate the Times Company’s ad tech.
NYT spokesperson Charlie Stadtlander declined to comment. Letterboxd and current parent company Tiny Ltd. didn’t immediately reply to a request for comment from The Verge .
If the NYT does acquire Letterboxd, it would follow other major purchases like Wordle (in a deal in “the low seven figures” ), Wirecutter (“ slightly more than $30 million” ), and The Athletic ( $550 million ).
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