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Sources: NYT has entered exclusive negotiations to acquire Letterboxd for roughly $330M; A24 dropped out of negotiations after price expectations rose (New York Times)

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In short

The New York Times is in exclusive negotiations to purchase the film social platform Letterboxd in a deal pegged at roughly $330 million. Talks reached this stage after independent entertainment studio A24 exited the bidding contest. A24 abandoned its acquisition pursuit once price expectations for the film community surged.

Key points

  • The New York Times has emerged as the sole prospective buyer for social network Letterbox…: The New York Times has emerged as the sole prospective buyer for social network Letterboxd.
  • Escalating valuation expectations forced entertainment company A24 to abandon its pursuit…: Escalating valuation expectations forced entertainment company A24 to abandon its pursuit of the platform.
  • Letterboxd could be acquired for approximately $330 million if the exclusive negotiations…: Letterboxd could be acquired for approximately $330 million if the exclusive negotiations conclude successfully.

Sources checked by our analysis pipeline: 1

Dina Bass / Bloomberg: |

Wall Street Journal: |

Emma Roth / The Verge: |

Djohnson / CyberScoop: |

Andrew E. Freedman / Tom's Hardware: |

Jaron Schneider / PetaPixel: |

Davey Alba / Bloomberg: |

Radhika Rajkumar / ZDNET: |

Tiffany Li / The Information: |

@metr_evals: |

Tom Warren / The Verge: |

Tom Warren / The Verge: |

Natalia Kniazhevich / Bloomberg: |

Meghan Bobrowsky / Wall Street Journal: |

Takashi Mochizuki / Bloomberg: |

Andrew Webster / The Verge: |

Jay Peters / The Verge: |

Brody Ford / Bloomberg: |

New York Times: |

Takashi Mochizuki / Bloomberg: |

Kevin Breuninger / CNBC: |

Isabelle Bousquette / Wall Street Journal: |

Kelly Cloonan / Wall Street Journal: |

Los Angeles Times: |

Reuters: |

Ben Schoon / 9to5Google: |

Ivan Mehta / TechCrunch: |

Rocket Drew / The Information: |

New York Times: |

Marcus Mendes / 9to5Mac: |

Elias Schisgall / Wall Street Journal: |

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