From Engadget · Steve Dent · · 1m
Times Company in talks to buy Letterboxd for $330 million
The New York Times Company is in exclusive negotiations to purchase the film review platform Letterboxd, reportedly at a higher price than earlier offers.
In brief
The New York Times Company is in exclusive negotiations to purchase the film review platform Letterboxd, reportedly at a higher price than earlier offers. The New York Times Company is in exclusive negotiations to buy Letterboxd for around three hundred thirty million dollars, significantly more than the two hundred…
Times Company seeks Letterboxd deal
The New York Times Company is in exclusive negotiations to purchase Letterboxd, the cinephile online platform, for reportedly around three hundred thirty million dollars.
Price jumps from earlier offer
The three hundred thirty million dollar figure is significantly more than the two hundred fifty million dollar valuation bandied around earlier this year. Discussions are ongoing and could still break down.
Letterboxd stays independent
Letterboxd would reportedly continue operations as a standalone site for the foreseeable future. The Times Company could introduce its own advertising technology into Letterboxd's systems.
What it means
The New York Times Company is in exclusive negotiations to buy Letterboxd for around three hundred thirty million dollars, significantly more than the two hundred fifty million discussed earlier this year.
