GoKawiilNYT in exclusive talks to buy Letterboxd for about $330 million
The New York Times Company is in exclusive negotiations to acquire Letterboxd, the film-focused social network, in a deal valued around $330 million. Sony Pictures and A24 had also been floated as potential buyers before talks with the Times advanced. Under the discussed terms, Letterboxd's co-founders would keep running the company but report to a Times Company executive, while adopting the Times' ad technology.