New York Times in Exclusive Talks to Buy Letterboxd

The New York Times Company is in exclusive negotiations to acquire Letterboxd for about $330 million, according to a report by The New York Times. No agreement has been reached, and the talks could still fall apart, the report said. The proposed price would value Letterboxd at more than 20 times its projected 2026 earnings of about $15 million. The figures and the status of the negotiations were attributed to people familiar with the discussions. The New York Times Company declined to comment, according to the reports; Letterboxd did not immediately respond to a request for comment in one account. If completed, the acquisition would add the film-focused social platform to the Times Company’s digital businesses. Letterboxd lets members log films, rate and review them, and share recommendations. Its core features are free, with paid subscription tiers offering additional features. The company also operates a digital video store. Letterboxd was founded in 2011 by Matthew Buchanan and Karl von Randow. The platform has expanded rapidly in recent years. Reports put its membership at about 30 million, while one account cited a figure of 30.7 million at the end of the second quarter...