The New York Times Company is negotiating to acquire Letterboxd for $330 million

The American media company The New York Times Company is in exclusive talks to acquire Letterboxd, a social platform for movie enthusiasts. The discussed deal value is approximately $330 million.

This was reported by The New York Times on November 5, 2026, citing two sources familiar with the negotiations. A final agreement has not yet been reached, so the parties may withdraw from the deal.

According to the sources, after a potential purchase, Letterboxd will continue to operate as a separate platform for the foreseeable future. Meanwhile, The New York Times Company is considering using its own advertising technologies within the service's infrastructure.

There is also discussion about retaining Letterboxd co-founders Matthew Buchanan and Karl von Randow in leadership positions. It is assumed they will report to one of the executives of The New York Times Company.

Representatives of the media company declined to comment on the reports of negotiations.

Why The New York Times is interested in Letterboxd

Letterboxd was created in 2011 as a social platform for discussing films. Users can keep viewing diaries, create themed lists, publish reviews, rate movies, and follow the activity of other participants.

The service's audience has reached approximately 30 million registered users. The platform is particularly popular among young movie enthusiasts and is actively used for discovering films and discussing new releases.

In 2023, the Canadian investment company Tiny acquired 60% of Letterboxd. At that time, the entire business was valued at approximately $50–60 million. The remaining 40% was retained by the service's founders.

Throughout 2026, Tiny explored the possibility of selling the platform. Potential buyers previously included Netflix, Sony Pictures Entertainment, Paramount, and the studio A24.

According to media reports, A24 withdrew from further participation in the process after the sellers' price expectations increased.

Initially, Letterboxd was valued at approximately $250 million. The discussed amount has now reached $330 million.

According to industry publication TheWrap, Letterboxd's projected EBITDA for 2026 is around $15 million. Thus, the proposed acquisition price is approximately 22 times this figure.

How the purchase fits into The New York Times' business

For The New York Times Company, the potential deal would be a continuation of expanding its business beyond traditional news publications.

Previously, the media company acquired the sports publication The Athletic, the recommendation service Wirecutter, and the popular word game Wordle.

These products complement The New York Times' subscription model and attract audiences with diverse interests.

As of the third quarter of 2026, the company's total number of paid subscribers reached 13.76 million, increasing by approximately 420,000 for the quarter.

Revenue from digital advertising grew by 12% compared to the same period the previous year.

Acquiring Letterboxd could potentially expand the media company's audience by attracting users interested in cinema, as well as create additional opportunities for developing the advertising segment.

However, the terms of product integration, possible changes to Letterboxd subscriptions, and the final deal price have not yet been disclosed.

As of November 6, 2026, the purchase remains subject to negotiations. The parties have not made an official announcement about reaching an agreement.