From The Verge · Jay Peters · · 1m
New York Times in talks to buy Letterboxd for $330 million
The Times Company is in exclusive negotiations to acquire the film social network, with co-founders potentially staying on.
In brief
The Times Company is in exclusive negotiations to acquire the film social network, with co-founders potentially staying on. The New York Times Company is in exclusive negotiations to buy Letterboxd, the film social network, for around three hundred thirty million dollars. Originally reported by The Verge.
Times in exclusive talks for Letterboxd
The New York Times Company is in exclusive negotiations to acquire Letterboxd, the social network for film lovers, for around three hundred thirty million dollars.
Co-founders could stay on under Times
The negotiations include 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.
Part of Times' acquisition strategy
If completed, this would follow other major Times purchases including Wordle in the low seven figures, Wirecutter for slightly more than thirty million dollars, and The Athletic for five hundred fifty million dollars.
The big picture
The New York Times Company is in exclusive negotiations to buy Letterboxd, the film social network, for around three hundred thirty million dollars.
