A24 and The New York Times are the latest names to join the list of potential buyers of Letterboxd, in a deal that could exceed $300 million, according to a report by the U.S. newspaper itself.
The film-focused platform, which allows users to log, rate, and review movies, has also reportedly held preliminary talks with Sony, Netflix, and Paramount, as well as private equity firms RedBird and TPG, and tech investor Alexis Ohanian, co-founder of Reddit and founder of Seven Seven Six, according to Puck.
Neither A24 nor The New York Times has officially confirmed its interest. A spokesperson for the newspaper said the company regularly evaluates potential investments and does not comment on speculation regarding acquisitions or divestitures.
Letterboxd is majority-owned by Canadian holding company Tiny, which acquired a 60% stake in 2023 in a deal valued at between $50 million and $60 million. Its co-founders, Matthew Buchanan and Karl von Randow, retain the remaining 40%. As of May, the platform had more than 29 million members worldwide.
Interest in Letterboxd became public in April, when Semafor reported that Tiny had held talks with Versant and The Ankler about a potential sale, although it was unable to reach an agreement with the latter. The latest round of talks once again puts the film platform at the center of interest from companies across the entertainment, media, and investment sectors.