New York Times Nears $330 Million Letterboxd Deal as It Chases 15 Million Subscribers
Updated
Updated · The New York Times · Nov 5
New York Times Nears $330 Million Letterboxd Deal as It Chases 15 Million Subscribers
1 articles · Updated · The New York Times · Nov 5
Summary
$330 million is the price under discussion as New York Times Co. enters exclusive talks to buy Letterboxd, though the deal is not final and could still collapse.
30 million users made the film-focused social platform attractive to bidders, and the Times is weighing the purchase as part of its push to broaden its bundle beyond core news.
13.8 million subscribers leave the company short of its 15 million end-2027 target; Letterboxd's mix of subscriptions and advertising could help close that gap.
A24 and Sony had shown interest, but A24 was pushed aside as the valuation rose; under the current talks, co-founders Matthew Buchanan and Karl von Randow could stay on and the site would likely remain stand-alone.