New York Times In Talks To Buy Letterboxd For $330 Million

The New York Times Company has entered what TechCrunch describes, citing a report from The New York Times itself, as "exclusive negotiations" to acquire Letterboxd, the film-logging and review platform, for $330 million. TechCrunch's report notes the Times Company declined to comment on the deal when asked by its own newsroom.

What would the Times actually be buying?

Letterboxd functions as a social cataloging tool for film watchers, often compared to Goodreads for movies: users log what they've watched, rate it, and follow other members' activity. The core product is free, with Letterboxd generating revenue through a paid subscription tier that unlocks advanced features, according to TechCrunch. The platform's projected earnings for this year are estimated at $15 million — a figure that amounts to roughly 4.5% of the reported $330 million purchase price, meaning any acquirer would be paying well above a simple revenue multiple and betting instead on audience reach and engagement.

How large is Letterboxd's user base now?

Letterboxd's growth curve is the clearest data point in the reporting. The service had 3 million users in January 2021; by April of this year, that number had grown to 28 million, per TechCrunch. More than half of current users are under 35, a demographic that has become central to legacy media companies' acquisition strategies as they look to extend subscription products beyond print and traditional digital news.

Who else was bidding for Letterboxd?

Letterboxd had previously been reported to be seeking a new owner, and TechCrunch's account states that film studios A24 and Sony had both expressed interest in acquiring the platform. A24, however, was "priced out" of the process, according to the report — language that suggests the bidding climbed past what the independent studio was willing to pay, leaving Sony and now the Times Company as the parties most closely associated with the deal.

"The New York Times Company has reportedly 'entered exclusive negotiations' to acquire Letterboxd for $330 million, according to a report from The New York Times itself."

Why hasn't the Times Company confirmed the deal?

The acquisition has not been confirmed by either party in a formal statement. TechCrunch's reporting is built on the Times' own news division reporting on its parent company's business activity — a structure common in media organizations where editorial and corporate functions operate independently, but one that leaves the deal in reported-but-unconfirmed territory. The Times Company's declination to comment to its own paper means the $330 million figure, the exclusivity of the negotiations, and the status of Sony's competing interest all rest on the single sourced account rather than a press release or regulatory filing.

Letterboxd Deal By The Numbers

• $330 million — reported purchase price under negotiation, per TechCrunch's account of The New York Times' own reporting
• 28 million — Letterboxd's reported user count as of April 2026, up from 3 million in January 2021
• $15 million — Letterboxd's projected earnings for this year, roughly 4.5% of the reported offer

What happens next in the process?

No closing timeline, regulatory filing, or board approval has been reported. If the Times Company does finalize a purchase, Letterboxd would join a small set of consumer platforms acquired by legacy publishers seeking younger, highly engaged audiences rather than traditional news readers. The exclusivity of the reported negotiations typically signals that other bidders, including Sony, have stepped back from active competition for the asset, though neither company has issued a statement confirming that status. Until the Times Company or Letterboxd issues an on-record statement, or a regulatory disclosure surfaces, the terms, structure, and completion of any transaction remain as reported by TechCrunch rather than formally confirmed.

How does the Letterboxd deal compare with other recent media acquisitions?

The reported Letterboxd talks surfaced the same week TechCrunch reported Fox had completed a $22 billion acquisition of Roku, a transaction tracked on the same "Media & Entertainment" vertical of TechCrunch's site where the Letterboxd report appears. The two deals operate at vastly different scales — Fox's completed purchase of Roku is roughly 67 times larger than the Times Company's reported $330 million offer for Letterboxd — but both involve legacy media companies absorbing platforms built around audience engagement rather than traditional content production. TechCrunch's coverage does not link the two deals beyond placement on its site, and no source material indicates the Times Company's interest in Letterboxd is connected to, or influenced by, the Fox-Roku transaction.