The New York Times Enters Exclusive Negotiations to Acquire Letterboxd for $330 Million
The New York Times Company is reportedly in exclusive negotiations to acquire the film-focused social platform Letterboxd for approximately $330 million. The deal follows a period of rapid user growth for Letterboxd, which expanded from 3 million users in early 2021 to 28 million by April 2026. The platform's demographic is notably young, with over half of its user base under the age of 35. The acquisition price represents a significant premium, as Letterboxd's projected earnings for the current year are estimated at $15 million. While film studios such as Sony and A24 reportedly expressed interest in the platform, A24 was allegedly priced out of the bidding process. This move signals The New York Times' continued strategy to expand its digital ecosystem into niche lifestyle and entertainment verticals.
Topics: M&A Media & Entertainment Tech Acquisitions
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Part of the story The New York Times in Exclusive Negotiations to Acquire Letterboxd for $330 Million (4 articles)