New York Times in talks to buy Letterboxd for about $330 million
The New York Times Company is in exclusive negotiations to acquire Letterboxd for around $330 million, according to The New York Times. The potential deal would leave the film-focused social network operating as a standalone service for the foreseeable future, with its co-founders possibly remaining in charge.
Under the reported terms, Letterboxd’s co-founders could continue running the company while reporting to a Times Company executive. The company would also integrate the Times Company’s advertising technology.
A Times spokesperson, Charlie Stadtlander, declined to comment. Letterboxd and its current parent company, Tiny Ltd., did not immediately respond to The Verge’s request for comment.
The Times Company, Sony Pictures Entertainment and A24 had all recently been rumored to be interested in buying Letterboxd. A purchase would add to the Times Company’s acquisitions of Wordle, in a deal valued in “the low seven figures”; Wirecutter, for “slightly more than $30 million”; and The Athletic, for $550 million.
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