New York Times Enters Exclusive Talks to Buy Letterboxd for $330 Million

The New York Times Company is in exclusive talks to acquire the social film platform Letterboxd for approximately $330 million. Sources report that the potential deal would maintain co-founders Matthew Buchanan and Karl von Randow in charge while integrating the Times' advertising technology. The proposed valuation represents about 22 times Letterboxd's projected annual adjusted earnings of $15 million. Open article →