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The New York Times Company is reportedly in exclusive negotiations to buy Letterboxd, the popular social platform for film lovers. The deal is being discussed at around USD 330 million, according to sources cited by The New York Times.
Talks are still ongoing and could fall apart. The reported price is higher than the USD 250 million valuation discussed earlier this year.
Letterboxd is expected to continue operating as a standalone site for the foreseeable future. The New York Times Company could still bring its advertising technology into Letterboxd’s systems.
The company declined to confirm the report. Letterboxd lets members rate and review films, maintain viewing diaries, create lists, and follow other users. It has often been described as a Goodreads for movies.
The platform has around 30 million members. It is projected to earn USD 15 million in revenue in 2026. Its community includes well-known film figures such as Martin Scorsese.
Canadian investment group Tiny bought 60% of Letterboxd in 2023. It reportedly began looking for a sale in July at a valuation of about USD 250 million.
Netflix, Paramount, and Sony Pictures were earlier reported to be interested buyers. The Times Company may be a stronger fit because it does not create the same conflict of interest as Hollywood studios.
The New York Times website has 13.8 million subscribers and aims to reach 15 million by the end of next year. Its traffic relies heavily on games such as Wordle, recipes, and The Athletic. Letterboxd could give readers another reason to spend time across the company’s digital products.