The New York Times Company is in “exclusive negotiations” to acquire Letterboxd, the social network for movie lovers, for about $330 million. The New York Times information. The Times Company, Sony Pictures Entertainment and A24 were recently rumored to be among those interested in purchasing Letterboxd.
Negotiations with the Times Company have included the possibility of Letterboxd’s co-founders remaining in charge but reporting to a Times Company executive. Letterboxd is likely to remain independent for the “foreseeable future,” according to the NOW. The company would also integrate Times Company’s advertising technology.
NOW Spokesman Charlie Stadtlander declined to comment. Letterboxd and current parent company Tiny Ltd. did not immediately respond to a request for comment from The edge.
