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

The New York Times Company is in exclusive negotiations to acquire the film-tracking community Letterboxd for about $330 million, more than 20 times its projected 2026 earnings of about $15 million. Variety reported the talks on November 5, 2026, and said the deal is not yet final.

Letterboxd's $330 Million Talks With the Times

Letterboxd is a New Zealand-based social platform where film fans log, rate and review what they watch, and it launched an online film-rental service available in 23 countries last year. The company was founded in 2011 and has been shopping itself to interested parties in recent months. Canadian holding company Tiny acquired a 60% stake in 2023 at a valuation of $50 million to $60 million, while co-founders Matthew Buchanan and Karl von Randow own the remaining 40%.

Variety reported in September that the Times and A24 were among the bidders, with Netflix, Sony Pictures Entertainment, Skydance, TPG and Reddit co-creator Alexis Ohanian also expressing interest. A24 had promised independence in operating the site but dropped out when the price rose, according to the report. Buchanan and von Randow are expected to remain in charge, reporting to a Times executive. The Times had no comment.

The purchase would extend the Times' run of acquisitions aimed at reader engagement, following sports site The Athletic, product review service Wirecutter and the game Wordle. The Times appointed Simon Chong as creative director for New York Times Cooking in August 2026 to lead that platform's expansion into video franchises and broader content formats, citybiz reported.

Letterboxd's User Base and Prior Deals

According to akta.pro company records, Letterboxd grew from under 2 million users at the time of its 2023 acquisition to 28 million users, and added 9 million users since January 2025 alone. The records list a revenue estimate of $25 million to $50 million and a valuation estimate of $250 million to $500 million. In April 2026, parent company Tiny began exploring the sale of its 60% stake to potential buyers including Versant and Ankler Media, with Buchanan retaining veto rights over any buyer.

How the Sale Process Unfolded

Bloomberg reported in October 2026 that Tiny was exploring selling its controlling stake to Sony, A24 or the Times in a deal potentially exceeding $300 million, with the platform projected to earn $15 million this year. On October 5, 2026, Yahoo reported that Intrinsic Entertainment Collaborative launched a Letterboxd4All campaign to let users pool funds and bid on buying the site, valued at over $300 million, seeking at least $100 per user with institutional investors already backing it.

What Comes Next for the Deal

The Times reported that the negotiations are exclusive and that the deal is not yet final.