The New York Times Company could shell out $330 million to buy Letterboxd

The publisher, which has seen its portfolio swell over the last decade through its acquisitions of The Athletic, Wirecutter, and Serial Productions, appears poised to purchase the beloved social media platform that has offered a free, ad-supported online experience, tiered Pro and Patron subscription levels, and a blessedly DM-free experience for cinephiles since its launch in 2011. This pricey deal edges out other potential buyers, including private equity firms like RedBird and TPG, and studios like A24, Sony, and Netflix. With Letterboxd’s subscriber count approaching 35 million by the end of October, this acquisition could be the boon TNYTC is seeking as the publisher aims to push its subscriber base to 15 million by the end of 2027.

According to anonymous sources familiar with the platform’s interests, the companies are discussing keeping co-founders Matthew Buchanan and Karl von Randow in charge, preserving Letterboxd’s independence (“for the foreseeable future”), and integrating the Times’ advertising technology into the platform. The Times stresses that no agreement has been reached and that the talks could still fall apart.