New York Times in Exclusive Talks to Acquire Letterboxd for Roughly $330 Million

The proposed roughly $330 million price tag is about 22 times Letterboxd’s projected 2026 earnings, according to the Times, raising concerns about the deal’s viability. The acquisition could still collapse despite the high valuation.

Co-founders Matthew Buchanan and Karl von Randow would retain control, with Letterboxd operating as a standalone entity while leveraging the Times’ ad tech, according to the report.

The sale process, managed by LionTree, drew interest from A24, Sony, and Netflix, among others, with Letterboxd’s co-founders retaining 40% ownership after a 2023 acquisition by Tiny.