Several major media companies and investors have expressed interest in acquiring Letterboxd, the social platform dedicated to film reviews and discussions. A24 and the New York Times are the latest organizations said to be pursuing a potential deal, according to reporting citing anonymous sources. The proposed valuation would exceed $300 million, representing approximately 20 times the platform’s projected earnings for the year.
Other parties reported to have explored acquisition opportunities include streaming service Netflix, Sony Pictures Entertainment, Paramount Skydance, investment firm TPG, and Reddit co-founder Alexis Ohanian. A New York Times spokesperson noted that the organization regularly evaluates potential investments but declined to comment on speculation regarding specific deals. A24 and representatives for Letterboxd did not provide statements in response to inquiries.
Letterboxd, established in 2011 and headquartered in New Zealand, maintains a user base exceeding 30 million members worldwide. The company is majority-owned by Canadian holding company Tiny, which acquired a 60% stake in 2023 at a valuation between $50 million and $60 million. Co-founders Matthew Buchanan and Karl von Randow retain ownership of the remaining 40% share. The platform has expanded its offerings to include an online video-rental service featuring independent films and previously unreleased content.
An acquisition by a studio or streaming service could present perception challenges regarding editorial independence, as users might question whether platform features would favor content from a corporate parent. A precedent exists with Rotten Tomatoes, which operated under NBCUniversal ownership for an extended period before being spun off earlier in the year as part of the newly created Versant Media. Earlier in the year, a Letterboxd spokesperson stated that while interest in the company’s future direction is natural, no specific developments were available to share, and any decision would involve the platform’s founders.
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