The New York Times in Exclusive Negotiations to Acquire Letterboxd for $330 Million
The New York Times Company is reportedly in exclusive negotiations to acquire Letterboxd, the popular social networking platform for film enthusiasts, for approximately $330 million. While other entities like Sony Pictures Entertainment and A24 were previously rumored to be interested, current discussions suggest a deal with The New York Times is progressing. Under the proposed terms, Letterboxd would likely operate as a standalone entity, with its co-founders potentially remaining in leadership roles reporting to a Times Company executive. The acquisition would allow for the integration of The New York Times' advertising technology into the social network. This move follows several high-profile digital acquisitions by the publisher, including The Athletic and Wirecutter.
Topics: M&A Media Acquisition Social Media Technology
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Part of the story The New York Times in Exclusive Negotiations to Acquire Letterboxd for $330 Million (4 articles)