The New York Times Company is reportedly moving closer to adding another major digital property to its portfolio. Advanced acquisition talks are underway for Letterboxd, the beloved social network for movie enthusiasts, in a potential transaction valued at up to $330 million. If finalized, the purchase price would represent roughly 22 times the platform's current annual revenue of $15 million, reflecting a valuation multiplier typically reserved for high-stakes technology deals.
Discussions remain ongoing, and sources close to the matter note that a final agreement has not yet been reached. Prior to these talks, entertainment heavyweights Sony and A24 had also explored bids for the site. However, studio ownership raised concerns over potential conflicts of interest for a platform dedicated to independent reviews and community cinephilia. Meanwhile, Times leadership has reportedly discussed keeping co-founders Matthew Buchanan and Karl von Randow at the helm to maintain operational continuity and calm user anxiety regarding corporate overreach.
The potential acquisition mirrors previous high-profile media and digital purchases by the publisher, including sports outlet The Athletic, product recommendation site Wirecutter, and the viral word game Wordle. Current plans indicate the publisher intends to integrate its advertising technology with Letterboxd's systems while allowing the platform to operate as a standalone site for the foreseeable future. The NYT Company is actively working toward a goal of reaching 15 million subscribers by the end of 2027, and absorbing Letterboxd's massive user base could provide a significant strategic advantage.
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