A24 and the New York Times are the latest players to emerge that are looking to acquire Letterboxd for over $300 million, according to a report in the New York Times.
A rep for A24 declined to comment. “The Company regularly reviews potential investments, and it’s our policy not to comment on speculation about potential acquisitions or divestitures,” Katie Hill, NYT SVP, Global Head of Communications and External Affairs, told The Wrap in a statement.
Others that have participated in the early talks include Sony, Netflix and Paramount, private equity firms RedBird and TPG and Reddit co-creator and Seven Seven Six founder and general partner Alexis Ohanian, according to Puck.
Letterboxd is majority-owned by the Canadian holding company Tiny, which took a 60% stake in 2023 in a deal valued at $50 million to $60 million. Meanwhile, Letterboxd co-founders Matthew Buchanan and Karl von Randow own the remaining 40% of the company. As of May, the platform had more than 29 million members globally.
The latest meetings come after Semafor reported in April that Tiny spoke with both Versant and the Ankler about their interest in potentially buying the platform, thought it couldn’t agree on sales terms with the latter.