The New York Times Co. is in exclusive negotiations to acquire Letterboxd, the social network for film lovers, for about $330 million, The New York Times reported, according to The Verge. No deal has been announced.
Unconfirmed: the talks were reported by The New York Times about its own parent company. A Times spokesperson declined to comment, and Letterboxd had not responded to The Verge.
Related: More film and entertainment coverage.
What is reported
The talks have included the possibility that Letterboxd’s co-founders stay in charge but report to a Times Company executive, The Verge reported, citing the Times. Letterboxd would likely remain a standalone service for the “foreseeable future” and would adopt the Times Company’s advertising technology, according to the report.
The Times Company, Sony Pictures Entertainment and A24 were recently rumored to be among potential buyers, The Verge reported.
Who said what
Times spokesperson Charlie Stadtlander declined to comment, The Verge reported. Letterboxd and its parent company, Tiny Ltd., did not immediately respond to The Verge’s request for comment.
Why it matters
A purchase would extend the Times Company’s string of consumer acquisitions, The Verge noted. It bought Wordle in a deal in “the low seven figures,” Wirecutter for “slightly more than $30 million” and The Athletic for $550 million, according to The Verge. More culture and media coverage is in Entertainment.
Sources
Read next in Technology
Most read this week
- Abdul El-Sayed and the Muslim Brotherhood Claims: What’s Confirmed and What Isn’t
- Stock Futures Erase a 2.4% Overnight Drop as Markets Digest Democrats’ Sweep of Congress
- Spain Transport Minister Óscar Puente Quits 26 Days Before Election Over Crash That Killed 69
- GM Korea’s Sales Jump 26.6% on Chevrolet Exports as Hyundai Slips 6.3% and Korean Factory Growth Cools
- Boston Plans to Close 3 Schools in 2028 as Enrollment Drops as Much as 58%
Latest
- CENTCOM Launches a Podcast With Adm. Cooper Eight Months Into the Iran War, Drawing Criticism
- Hegseth Clears National Guard in D.C. to Use Patrol Cars, Tactical Vehicles and Boats
- First 8 of 86 USS Arizona Unknowns Disinterred in Honolulu for DNA Identification
- Marines Reactivate the “Silver Eagles” as an F-35C Squadron at Cherry Point
- Texas Sushi Spot Uchi Heads to Fort Point as Fumo Pizza Takes Over No. 9 Park’s Old Home