New York Times in talks to buy Letterboxd for around $330 million
Briefing by News4U · First published
The New York Times Company is in exclusive negotiations to acquire Letterboxd, the social network for film lovers, for around $330 million, The Verge reported, citing The New York Times. Talks have included the possibility that Letterboxd’s co-founders would stay in charge while reporting to a Times Company executive, and the platform would likely remain standalone for the foreseeable future while integrating Times advertising technology. A Times spokesperson declined to comment; Letterboxd and parent company Tiny Ltd. did not immediately reply to The Verge. The purchase would follow earlier Times deals including Wordle, Wirecutter and The Athletic. [1]
Sources
- The New York Times is in talks to buy Letterboxd for around $330 million
The Verge · · Full text