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The New York Times Company is reportedly in exclusive talks to buy Letterboxd for about $330 million, with no agreement yet
The Times reported on Nov. 5 that its parent is in exclusive talks to buy Letterboxd for about $330M. No agreement exists and talks could fall apart.
The deal is not done. On November 5, 2026, The New York Times reported, citing two people familiar with the discussions, that The New York Times Company is in exclusive talks to acquire the film-focused social platform Letterboxd for about $330 million. No agreement has been reached and the talks could still fall apart. The Times Company declined to comment, per TheWrap.
The essentials
- Source: the Times's own reporting, relayed by Reuters and others. We read the relays, not the original.
- Price: about $330 million, described as more than 20 times projected 2026 earnings of about $15 million (Reuters), or roughly 22 times EBITDA (TheWrap).
- Seller: Letterboxd is majority-owned by Canadian holding company Tiny, which bought 60% in 2023 at a valuation of $50-60 million; the co-founders hold the other 40%. LionTree is advising on the sale.
- Plans discussed: founders Matthew Buchanan and Karl von Randow would stay and report to a Times executive, the site would likely stay standalone, and Times advertising technology would be integrated.
Who else was in the running?
Reuters says A24 had been among prospective buyers but dropped out as price expectations rose. IndieWire says Sony Pictures Entertainment and A24 were finalists, and that A24 promised to keep Letterboxd independent. IndieWire's headline says the sale is being finalized, but the companies have only entered exclusive negotiations.
Why would the Times want it?
TheWrap ties it to the Times's goal of 15 million subscribers by the end of 2027; IndieWire puts the current count at 13.8 million and suggests Letterboxd's paid tiers could be bundled with products like The Athletic, Cooking or Games. Reuters cites Statista for 30 million Letterboxd users. Letterboxd does not publish how many pay.
What is not established
- Whether a deal will be signed: not established; talks could fall apart.
- Final price and structure: only a reported figure.
- Whether Letterboxd's paid tiers will be bundled: speculation in the coverage, not announced.
- How many Letterboxd users pay: not published.
Summary table
| Point | What is stated as of November 6, 2026 | Source |
|---|---|---|
| Report | Exclusive talks, about $330 million | NYT via Reuters, TheWrap |
| Multiple | More than 20x projected earnings of about $15 million (Reuters) / about 22x EBITDA (TheWrap) | Reuters, TheWrap |
| Owners | Tiny 60% (since 2023), founders 40% | TheWrap, IndieWire |
| Plans | Founders stay; standalone site; Times ad tech integrated | Reuters via Arab News |
| Status | No agreement; talks could fall apart | Reuters |
FAQ
Has the New York Times bought Letterboxd?
Not yet. It is reported to be in exclusive talks, and no agreement exists.
Will Letterboxd change?
Coverage says it would likely remain a standalone site with its founders in place, but nothing is decided.
Who owns Letterboxd now?
Tiny holds about 60% and the co-founders about 40%, according to TheWrap.
Method and limits
Sources checked on November 6, 2026. The report rests on two unnamed sources cited by the Times; we did not read the original. Earnings and EBITDA labels differ between outlets. This is not investment advice.
Sources
- Investing.com (Reuters): New York Times Company in advanced talks to acquire Letterboxd for roughly $330 million, NYT reports (verified 2026-11-06)
- TheWrap: New York Times Enters Exclusive Talks to Buy Letterboxd for $330 Million (verified 2026-11-06)
- IndieWire: Letterboxd Finalizing $330 Million Sale to The New York Times (verified 2026-11-06)
- Arab News (Reuters): New York Times Company in advanced talks to acquire Letterboxd for roughly $330 million (verified 2026-11-06)
- Yahoo Finance: Letterboxd could be the next addition to the New York Times bundle (verified 2026-11-06)
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