Breaking news from The New York Times: The New York Times “has entered exclusive negotiations” to acquire the independently-owned movie-focused social platform Letterboxd for roughly $330 million.
The popular community site for cinephiles (where Anne Hathaway recently gave Digger a rave review) has recently become a target for acquisition, with reports circulating last summer that Netflix was interested, not to mention movie studios like A24 and Sony.
The amount of $330 million is significantly higher than Letterboxd’s projected 2026 earnings, which the Times reports estimates as around $15 million. For that as well as many other reasons, the deal could potentially fall apart. In the meantime, Letterboxd continues to make new titles available through its VOD Video Store, including Coyote vs. Acme and the A$AP Rocky documentary Mouth Full of Golds.
