New York Times reportedly in exclusive talks to buy Letterboxd for $330M

The New York Times Company has entered exclusive negotiations to acquire film-logging platform Letterboxd for $330 million, according to a report in the Times itself. Letterboxd has grown from 3 million users in 2021 to 28 million, more than half under 35; A24 and Sony were reportedly also interested.

Why it matters: The deal would extend the Times' bundle strategy into a fast-growing, young-skewing community, though the price is steep against roughly $15 million in projected earnings.