The New York Times Company is in exclusive negotiations to acquire the online movie buff community Letterboxd, the Times reported Thursday.
The price is reported to be about $330 million, which amounts to more than 20 times Letterboxd’s projected earnings for 2026 of about $15 million. The New York Times said that the deal was not yet final.
Variety reported in September that the New York Times and A24 were among the bidders for the company, with Netflix, Sony Pictures Entertainment, Skydance, private-equity giant TPG and Reddit co-creator Alexis Ohanian also expressing interest.
Co-founders Matthew Buchanan and Karl von Randow are expected to remain in charge, reporting to a N.Y. Times executive, the report said.
