NYT parent company in talks to acquire social film discovery platform Letterboxd in $330m deal
Dawn · Reuters ·
Film platform likely to continue operating as a standalone site for the foreseeable future.
The New York Times Company is in exclusive talks to acquire film-focused social platform Letterboxd in a deal valued at about $330 million, the New York Times reported on Thursday, citing two people familiar with the discussions.
A deal would extend the media organisation’s push beyond its core news business, following acquisitions including sports site The Athletic, product-review service Wirecutter and the Wordle game. The company added 420,000 digital-only subscribers in the third quarter, bringing total paid subscribers to 13.8 million.
No agreement has been reached and the talks could still fall apart, the report said.